Octave Specialty Group (NYSE:OSG) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Octave Specialty Group (NYSE:OSG) from a hold rating to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen raised Octave Specialty Group from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings cut Octave Specialty Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Octave Specialty Group Trading Up 5.0%

Shares of Octave Specialty Group stock opened at $5.85 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.06 and a current ratio of 1.05. Octave Specialty Group has a 52 week low of $3.88 and a 52 week high of $10.38. The stock has a 50 day moving average price of $4.85 and a two-hundred day moving average price of $6.08. The stock has a market capitalization of $263.22 million, a PE ratio of -1.20 and a beta of 0.79.

Octave Specialty Group (NYSE:OSG) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.35. Octave Specialty Group had a negative return on equity of 0.55% and a negative net margin of 75.91%.The firm had revenue of $104.17 million during the quarter, compared to analysts’ expectations of $17.77 million. As a group, equities analysts anticipate that Octave Specialty Group will post 0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC lifted its holdings in Octave Specialty Group by 4,186.8% during the first quarter. Parallel Advisors LLC now owns 6,473 shares of the company’s stock worth $30,000 after acquiring an additional 6,322 shares during the period. Federated Hermes Inc. bought a new stake in shares of Octave Specialty Group during the 4th quarter valued at $34,000. Russell Investments Group Ltd. grew its position in Octave Specialty Group by 613.5% during the third quarter. Russell Investments Group Ltd. now owns 4,916 shares of the company’s stock worth $41,000 after buying an additional 4,227 shares in the last quarter. CWM LLC purchased a new position in Octave Specialty Group during the fourth quarter worth about $44,000. Finally, Aire Advisors LLC purchased a new position in shares of Octave Specialty Group in the 1st quarter worth about $63,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

About Octave Specialty Group

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.