Prescott Group Capital Management L.L.C. Makes New Investment in Octave Specialty Group, Inc. $OSG

Prescott Group Capital Management L.L.C. bought a new position in shares of Octave Specialty Group, Inc. (NYSE:OSG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 893,517 shares of the company’s stock, valued at approximately $6,952,000.

Other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake 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 purchasing an additional 4,227 shares during the period. Federated Hermes Inc. purchased a new position in Octave Specialty Group during the second quarter worth about $37,000. CWM LLC purchased a new position in Octave Specialty Group during the fourth quarter worth about $44,000. Inscription Capital LLC purchased a new position in Octave Specialty Group during the fourth quarter worth about $84,000. Finally, Crown Wealth Group LLC purchased a new position in Octave Specialty Group during the fourth quarter worth about $87,000. 80.92% of the stock is owned by hedge funds and other institutional investors.

Octave Specialty Group Price Performance

Octave Specialty Group stock opened at $5.85 on Thursday. The company’s 50 day simple moving average is $4.87 and its 200-day simple moving average is $5.94. The company has a market capitalization of $263.22 million, a price-to-earnings ratio of -1.20 and a beta of 0.79. Octave Specialty Group, Inc. 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 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Octave Specialty Group (NYSE:OSG) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.35. The business had revenue of $104.17 million for the quarter, compared to the consensus estimate of $17.77 million. Octave Specialty Group had a negative net margin of 75.91% and a negative return on equity of 0.55%. As a group, equities research analysts expect that Octave Specialty Group, Inc. will post 0.4 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Octave Specialty Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Weiss Ratings downgraded shares of Octave Specialty Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Finally, Wall Street Zen raised shares of Octave Specialty Group from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

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.