Brokerages Set Octave Specialty Group, Inc. (NYSE:OSG) PT at $11.50

Shares of Octave Specialty Group, Inc. (NYSE:OSG) have been given an average recommendation of “Hold” by the five analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $11.50.

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods started coverage on shares of Octave Specialty Group in a research report on Friday, August 28th. They set an “outperform” rating and a $8.00 price target on the stock. Zacks Research lowered shares of Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, Weiss Ratings raised shares of Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th.

Octave Specialty Group Stock Up 4.5%

Shares of NYSE OSG opened at $4.69 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $5.43 and its two-hundred day moving average is $5.29. Octave Specialty Group has a 52-week low of $3.88 and a 52-week high of $10.38. The firm has a market cap of $211.28 million, a price-to-earnings ratio of -1.28 and a beta of 0.83.

Octave Specialty Group (NYSE:OSG) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $22.79 million. Research analysts predict that Octave Specialty Group will post 0.19 EPS for the current year.

Hedge Funds Weigh In On Octave Specialty Group

Several hedge funds and other institutional investors have recently made changes to their positions in OSG. Millennium Management LLC lifted its stake in Octave Specialty Group by 142.7% in the first quarter. Millennium Management LLC now owns 508,686 shares of the company’s stock worth $4,451,000 after acquiring an additional 299,094 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Octave Specialty Group by 7.4% in the 1st quarter. Empowered Funds LLC now owns 195,127 shares of the company’s stock valued at $1,707,000 after purchasing an additional 13,494 shares in the last quarter. Creative Planning acquired a new position in shares of Octave Specialty Group during the second quarter worth $145,000. Rhumbline Advisers raised its stake in Octave Specialty Group by 7.7% in the second quarter. Rhumbline Advisers now owns 74,916 shares of the company’s stock valued at $532,000 after buying an additional 5,376 shares in the last quarter. Finally, Norges Bank acquired a new stake in Octave Specialty Group in the second quarter valued at $532,000. Hedge funds and other institutional investors 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.