Zacks Research Upgrades Octave Specialty Group (NYSE:OSG) to “Strong-Buy”

Octave Specialty Group (NYSE:OSG) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other analysts have also recently commented on OSG. Wall Street Zen upgraded Octave Specialty Group from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings cut Octave Specialty Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Octave Specialty Group Stock Up 5.0%

Octave Specialty Group stock opened at $5.85 on Monday. 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 has a 12 month low of $3.88 and a 12 month high of $10.38. The business has a 50 day simple moving average of $4.85 and a 200-day simple moving average of $6.08. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.06.

Octave Specialty Group (NYSE:OSG) last posted 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. The business had revenue of $104.17 million during the quarter, compared to analysts’ expectations of $17.77 million. Octave Specialty Group had a negative return on equity of 0.55% and a negative net margin of 75.91%. On average, analysts anticipate that Octave Specialty Group will post 0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Octave Specialty Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OSG. Millennium Management LLC boosted its stake 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 buying an additional 299,094 shares during the last quarter. Empowered Funds LLC boosted its stake in Octave Specialty Group by 7.4% during the first quarter. Empowered Funds LLC now owns 195,127 shares of the company’s stock worth $1,707,000 after buying an additional 13,494 shares during the last quarter. Creative Planning acquired a new position in Octave Specialty Group during the second quarter worth $145,000. Rhumbline Advisers lifted its stake in shares of Octave Specialty Group by 7.7% in the 2nd quarter. Rhumbline Advisers now owns 74,916 shares of the company’s stock valued at $532,000 after purchasing an additional 5,376 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Octave Specialty Group in the 2nd quarter valued at $532,000. Institutional investors and hedge funds own 80.92% of the company’s stock.

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.