Raging Capital Management Lowers stake in Ambac Financial Group (AMBC)

Ambac Financial Group (AMBC) : Raging Capital Management reduced its stake in Ambac Financial Group by 30.65% during the most recent quarter end. The investment management company now holds a total of 1,099,962 shares of Ambac Financial Group which is valued at $19,700,319 after selling 486,102 shares in Ambac Financial Group , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Ambac Financial Group makes up approximately 3.60% of Raging Capital Management’s portfolio.

Other Hedge Funds, Including , Aqr Capital Management boosted its stake in AMBC in the latest quarter, The investment management firm added 79,886 additional shares and now holds a total of 182,058 shares of Ambac Financial Group which is valued at $3,260,659. Ambac Financial Group makes up approx 0.01% of Aqr Capital Management’s portfolio. Convergence Investment Partners added AMBC to its portfolio by purchasing 45,030 company shares during the most recent quarter which is valued at $806,487. Ambac Financial Group makes up approx 0.11% of Convergence Investment Partners’s portfolio.Dimensional Fund Advisors Lp boosted its stake in AMBC in the latest quarter, The investment management firm added 396,486 additional shares and now holds a total of 2,199,198 shares of Ambac Financial Group which is valued at $40,971,059. Ambac Financial Group makes up approx 0.02% of Dimensional Fund Advisors Lp’s portfolio.Royce Associates Lp reduced its stake in AMBC by selling 29,000 shares or 6.87% in the most recent quarter. The Hedge Fund company now holds 393,088 shares of AMBC which is valued at $6,981,243. Ambac Financial Group makes up approx 0.04% of Royce Associates Lp’s portfolio.

Ambac Financial Group closed down -0.03 points or -0.17% at $18.11 with 1,62,168 shares getting traded on Thursday. Post opening the session at $18.22, the shares hit an intraday low of $17.94 and an intraday high of $18.31 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Ambac Financial Group reported $2.54 EPS for the quarter, beating the analyst consensus estimate by $ 1.60 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.94. The company had revenue of $106.70 million for the quarter, compared to analysts expectations of $119.29 million. The company’s revenue was down -53.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $5.70 EPS.

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