Octave Specialty Group (NYSE:OSG) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Octave Specialty Group (NYSE:OSG) from a strong sell rating to a hold rating in a research note released on Saturday.

Other analysts have also recently issued research reports about the company. DOWLING & PARTN cut Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Octave Specialty Group in a research note on Monday, December 29th. Finally, Truist Financial lifted their price target on Octave Specialty Group from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Octave Specialty Group presently has an average rating of “Hold” and a consensus price target of $15.00.

Octave Specialty Group Stock Down 3.5%

Shares of Octave Specialty Group stock opened at $5.33 on Friday. The stock has a 50-day moving average price of $5.93 and a 200 day moving average price of $7.38. The company has a market cap of $233.33 million, a P/E ratio of -0.90 and a beta of 0.86. The company has a current ratio of 1.06, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. Octave Specialty Group has a 1 year low of $4.97 and a 1 year high of $10.38.

Insiders Place Their Bets

In related news, CEO Claude Leblanc purchased 12,000 shares of Octave Specialty Group stock in a transaction on Friday, January 2nd. The stock was bought at an average price of $7.59 per share, with a total value of $91,080.00. Following the completion of the transaction, the chief executive officer directly owned 1,033,777 shares of the company’s stock, valued at approximately $7,846,367.43. This represents a 1.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 9.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OSG. Millennium Management LLC boosted its position in Octave Specialty Group by 142.7% during the first quarter. Millennium Management LLC now owns 508,686 shares of the company’s stock worth $4,451,000 after purchasing an additional 299,094 shares during the period. Empowered Funds LLC raised its position in shares of Octave Specialty Group by 7.4% in the first quarter. Empowered Funds LLC now owns 195,127 shares of the company’s stock valued at $1,707,000 after purchasing an additional 13,494 shares during the period. CWM LLC lifted its stake in shares of Octave Specialty Group by 65,933.3% in the second quarter. CWM LLC now owns 3,962 shares of the company’s stock worth $28,000 after buying an additional 3,956 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Octave Specialty Group by 256.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 111,053 shares of the company’s stock worth $788,000 after buying an additional 79,854 shares during the period. Finally, Prescott Group Capital Management L.L.C. grew its stake in Octave Specialty Group by 98.0% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 875,977 shares of the company’s stock valued at $6,219,000 after buying an additional 433,613 shares during the last quarter. 80.92% of the stock is owned by institutional investors.

Octave Specialty Group Company Profile

Ambac Financial Group, Inc (NYSE:AMBC) is a specialized financial services holding company headquartered in New York City. Through its principal subsidiary, Ambac Assurance Corporation, the company provides financial guarantee insurance and surety bonds designed to enhance the credit quality of public finance and structured finance transactions. Ambac’s offerings are tailored to municipal issuers, financial institutions and corporate borrowers, supporting infrastructure projects, energy and transportation initiatives, as well as asset-backed securities.

Ambac’s core business activities center on credit enhancement and risk-transfer solutions.