Octave Specialty Group, Inc. (NYSE:OSG) Stock Now Rated “Hold” by Sell-Side Analysts

Octave Specialty Group, Inc. (NYSE:OSG) has been assigned a consensus recommendation of “Hold” from the five research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $11.50.

Several research analysts recently commented on the company. Keefe, Bruyette & Woods started coverage on Octave Specialty Group in a research report on Friday, August 28th. They set an “outperform” rating and a $8.00 price target for the company. Zacks Research downgraded shares of Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, Weiss Ratings upgraded Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 17th.

Institutional Investors Weigh In On Octave Specialty Group

A number of institutional investors have recently modified their holdings of the business. Wolf Hill Capital Management LP acquired a new position in shares of Octave Specialty Group during the 4th quarter worth approximately $14,696,000. RIHO Partners LLC acquired a new stake in shares of Octave Specialty Group in the first quarter valued at approximately $2,542,000. Renaissance Technologies LLC boosted its stake in shares of Octave Specialty Group by 805.2% in the first quarter. Renaissance Technologies LLC now owns 227,726 shares of the company’s stock valued at $1,059,000 after buying an additional 202,568 shares during the period. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in shares of Octave Specialty Group during the 4th quarter worth $1,579,000. Finally, Sei Investments Co. grew its stake in Octave Specialty Group by 133.9% during the first quarter. Sei Investments Co. now owns 156,078 shares of the company’s stock worth $726,000 after buying an additional 89,360 shares in the last quarter. Institutional investors own 80.92% of the company’s stock.

Octave Specialty Group Stock Down 2.3%

Shares of NYSE OSG opened at $4.09 on Tuesday. Octave Specialty Group has a 1 year low of $3.88 and a 1 year high of $10.38. The firm has a market capitalization of $184.48 million, a PE ratio of -1.12 and a beta of 0.83. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average is $4.89 and its 200-day moving average is $5.17.

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

About Octave Specialty Group

Ambac Financial Group, Inc operates as a financial services holding company. It operates three businesses: Specialty Property and Casualty Insurance, Insurance Distribution, and Legacy Financial Guarantee (LFG) Insurance. The Specialty Property and Casualty Insurance business provides specialty property and casualty program insurance with a focus commercial and personal liability risks. The Insurance Distribution business includes the specialty property and casualty insurance distribution business, which includes managing general agents and underwriters, insurance wholesalers, brokers, and other distribution businesses.