1,888,973 Shares in Octave Specialty Group, Inc. $OSG Purchased by Wolf Hill Capital Management LP

Wolf Hill Capital Management LP acquired a new position in Octave Specialty Group, Inc. (NYSE:OSG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,888,973 shares of the company’s stock, valued at approximately $14,696,000. Octave Specialty Group accounts for approximately 1.6% of Wolf Hill Capital Management LP’s investment portfolio, making the stock its 15th biggest position. Wolf Hill Capital Management LP owned approximately 4.31% of Octave Specialty Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OSG. Federated Hermes Inc. bought a new position in Octave Specialty Group during the fourth quarter worth about $34,000. Russell Investments Group Ltd. boosted its holdings in Octave Specialty Group by 613.5% during the third quarter. Russell Investments Group Ltd. now owns 4,916 shares of the company’s stock worth $41,000 after buying an additional 4,227 shares during the last quarter. CWM LLC bought a new position in Octave Specialty Group during the fourth quarter worth about $44,000. New York State Common Retirement Fund bought a new position in Octave Specialty Group during the fourth quarter worth about $78,000. Finally, Inscription Capital LLC bought a new position in Octave Specialty Group during the fourth quarter worth about $84,000. 80.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OSG. Weiss Ratings cut Octave Specialty Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 4th. Wall Street Zen upgraded Octave Specialty Group from a “strong sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Zacks Research upgraded Octave Specialty Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Octave Specialty Group presently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Octave Specialty Group Trading Up 0.3%

NYSE:OSG opened at $5.62 on Monday. Octave Specialty Group, Inc. has a fifty-two week low of $3.88 and a fifty-two week high of $10.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $252.78 million, a PE ratio of -1.16 and a beta of 0.86. The business’s 50-day simple moving average is $5.07 and its 200-day simple moving average is $5.60.

Octave Specialty Group (NYSE:OSG) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.35. The business had revenue of $104.17 million for 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%. Sell-side analysts expect that Octave Specialty Group, Inc. will post 0.45 earnings per share for the current fiscal year.

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.