Octave Specialty Group (NYSE:OSG) Coverage Initiated at Keefe, Bruyette & Woods

Equities researchers at Keefe, Bruyette & Woods initiated coverage on shares of Octave Specialty Group (NYSE:OSG) in a note issued to investors on Friday. The brokerage set an “outperform” rating and a $8.00 price target on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 77.58% from the company’s current price.

Other equities analysts also recently issued reports about the company. Weiss Ratings raised Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. Zacks Research cut shares of Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.50.

Octave Specialty Group Stock Down 2.1%

Octave Specialty Group stock opened at $4.50 on Friday. The firm has a market capitalization of $202.95 million, a P/E ratio of -1.23 and a beta of 0.85. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. Octave Specialty Group has a twelve month low of $3.88 and a twelve month high of $10.38. The stock’s fifty day simple moving average is $5.57 and its 200-day simple moving average is $5.33.

Octave Specialty Group (NYSE:OSG) last released its earnings results on Thursday, August 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). The company had revenue of $83.00 million during the quarter, compared to analysts’ expectations of $22.79 million. Octave Specialty Group had a negative net margin of 51.10% and a positive return on equity of 0.44%. As a group, equities analysts expect that Octave Specialty Group will post 0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Octave Specialty Group

Institutional investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. acquired a new stake in Octave Specialty Group during the fourth quarter worth approximately $34,000. Russell Investments Group Ltd. grew its position in shares of Octave Specialty Group by 613.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,916 shares of the company’s stock valued at $41,000 after buying an additional 4,227 shares during the last quarter. CWM LLC purchased a new position in shares of Octave Specialty Group in the 4th quarter valued at $44,000. Parallel Advisors LLC lifted its position in Octave Specialty Group by 4,186.8% in the first quarter. Parallel Advisors LLC now owns 6,473 shares of the company’s stock valued at $30,000 after acquiring an additional 6,322 shares during the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in Octave Specialty Group in the fourth quarter valued at $63,000. Hedge funds and other institutional investors 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.