Western Standard LLC Acquires New Stake in Octave Specialty Group, Inc. $OSG

Western Standard LLC bought a new position in shares of Octave Specialty Group, Inc. (NYSE:OSG) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 2,641,351 shares of the company’s stock, valued at approximately $22,029,000. Octave Specialty Group accounts for 6.5% of Western Standard LLC’s holdings, making the stock its 2nd biggest holding. Western Standard LLC owned approximately 0.06% of Octave Specialty Group as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in OSG. CWM LLC increased its stake in shares of Octave Specialty Group by 65,933.3% in the second quarter. CWM LLC now owns 3,962 shares of the company’s stock valued at $28,000 after buying an additional 3,956 shares during the period. Federated Hermes Inc. acquired a new stake in Octave Specialty Group during the 2nd quarter valued at approximately $37,000. LM Asset IM Inc. bought a new position in Octave Specialty Group during the 2nd quarter worth approximately $43,000. Cerity Partners LLC acquired a new position in shares of Octave Specialty Group in the 2nd quarter worth approximately $84,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Octave Specialty Group in the 2nd quarter worth approximately $108,000. Institutional investors own 80.92% of the company’s stock.

Insider Buying and Selling at Octave Specialty Group

In other Octave Specialty Group news, CEO Claude Leblanc purchased 12,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were acquired at an average price of $7.59 per share, with a total value of $91,080.00. Following the transaction, the chief executive officer owned 1,033,777 shares in the company, valued at $7,846,367.43. The trade was a 1.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.29% of the stock is owned by corporate insiders.

Octave Specialty Group Stock Performance

OSG opened at $5.52 on Friday. Octave Specialty Group, Inc. has a 1-year low of $4.97 and a 1-year high of $11.55. The company has a market cap of $241.83 million, a price-to-earnings ratio of -0.93 and a beta of 0.86. The company’s fifty day moving average price is $5.95 and its two-hundred day moving average price is $7.41. The company has a current ratio of 1.06, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Octave Specialty Group in a research note on Monday, December 29th. Truist Financial lifted their price objective on Octave Specialty Group from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Finally, DOWLING & PARTN lowered Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.00.

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.