RIHO Partners LLC Invests $2.54 Million in Octave Specialty Group, Inc. $OSG

RIHO Partners LLC purchased a new stake in Octave Specialty Group, Inc. (NYSE:OSG) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 546,569 shares of the company’s stock, valued at approximately $2,542,000. Octave Specialty Group accounts for 1.6% of RIHO Partners LLC’s investment portfolio, making the stock its 13th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OSG. Western Standard LLC purchased a new position in Octave Specialty Group during the 4th quarter valued at about $19,486,000. Wolf Hill Capital Management LP purchased a new position in Octave Specialty Group during the fourth quarter valued at approximately $14,696,000. Dimensional Fund Advisors LP acquired a new position in Octave Specialty Group in the 4th quarter valued at approximately $13,114,000. Gendell Jeffrey L purchased a new stake in Octave Specialty Group in the 4th quarter worth approximately $12,210,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Octave Specialty Group during the 4th quarter valued at $7,973,000. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

Octave Specialty Group Stock Down 0.1%

Shares of Octave Specialty Group stock opened at $5.58 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average price of $5.84 and a two-hundred day moving average price of $5.49. The stock has a market capitalization of $251.38 million, a P/E ratio of -1.15 and a beta of 0.83. Octave Specialty Group, Inc. has a 12-month low of $3.88 and a 12-month high of $10.38.

Octave Specialty Group (NYSE:OSG) last announced its earnings results on Wednesday, May 6th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.02 by $0.35. The firm had revenue of $104.17 million for the quarter, compared to the consensus estimate of $17.77 million. Octave Specialty Group had a negative net margin of 75.91% and a negative return on equity of 0.55%. Equities analysts expect that Octave Specialty Group, Inc. will post 0.45 earnings per share for the current year.

Analysts Set New Price Targets

OSG has been the subject of several recent research reports. Weiss Ratings upgraded Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. Zacks Research downgraded Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.00.

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.