Octave Specialty Group (NYSE:OSG) Upgraded to “Moderate Buy” at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Octave Specialty Group (NYSE:OSG) to a moderate buy rating in a research report report published on Thursday,Zacks.com reports.

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

Octave Specialty Group Stock Performance

Octave Specialty Group stock opened at $4.61 on Thursday. The firm has a 50 day simple moving average of $5.55 and a 200-day simple moving average of $5.33. Octave Specialty Group has a 1-year low of $3.88 and a 1-year high of $10.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $207.68 million, a price-to-earnings ratio of -1.26 and a beta of 0.85.

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

Institutional Trading of Octave Specialty Group

Several hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its holdings in shares of Octave Specialty Group by 9.9% in the second quarter. The Manufacturers Life Insurance Company now owns 17,993 shares of the company’s stock valued at $128,000 after purchasing an additional 1,615 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in Octave Specialty Group by 0.7% during the 3rd quarter. Bridgeway Capital Management LLC now owns 319,493 shares of the company’s stock worth $2,665,000 after buying an additional 2,244 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Octave Specialty Group by 10.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 34,555 shares of the company’s stock worth $288,000 after buying an additional 3,324 shares in the last quarter. Russell Investments Group Ltd. boosted its position in 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 period. Finally, Federated Hermes Inc. purchased a new position in Octave Specialty Group in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 80.92% of the company’s stock.

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.