Zacks Research Downgrades Octave Specialty Group (NYSE:OSG) to Hold

Octave Specialty Group (NYSE:OSG) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Separately, Weiss Ratings upgraded Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Octave Specialty Group has an average rating of “Hold” and an average price target of $15.00.

Octave Specialty Group Trading Down 1.0%

Octave Specialty Group stock opened at $6.36 on Monday. The firm has a market cap of $286.13 million, a price-to-earnings ratio of -1.31 and a beta of 0.83. Octave Specialty Group has a 1 year low of $3.88 and a 1 year high of $10.38. The firm’s 50 day moving average price is $5.62 and its two-hundred day moving average price is $5.51. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Octave Specialty Group (NYSE:OSG) last issued its earnings results on Wednesday, May 6th. The company reported $0.37 earnings per share (EPS) for the quarter, topping 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 business had revenue of $104.17 million for the quarter, compared to analysts’ expectations of $17.77 million. On average, research analysts predict that Octave Specialty Group will post 0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Octave Specialty Group

Hedge funds have recently modified their holdings of the stock. Western Standard LLC acquired a new stake in shares of Octave Specialty Group during the 4th quarter valued at about $19,486,000. Continental General Insurance Co. lifted its stake in Octave Specialty Group by 69.8% in the third quarter. Continental General Insurance Co. now owns 2,068,349 shares of the company’s stock valued at $17,250,000 after acquiring an additional 850,000 shares during the last quarter. Wolf Hill Capital Management LP bought a new stake in Octave Specialty Group in the fourth quarter worth approximately $14,696,000. Dimensional Fund Advisors LP acquired a new position in shares of Octave Specialty Group during the 4th quarter worth $13,114,000. Finally, Gendell Jeffrey L acquired a new position in shares of Octave Specialty Group during the 4th quarter worth $12,210,000. 80.92% of the stock is owned by institutional investors and hedge funds.

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.