Zacks Research Downgrades Octave Specialty Group (NYSE:OSG) to Hold

Octave Specialty Group (NYSE:OSG) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Separately, Weiss Ratings upgraded Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.00.

Octave Specialty Group Stock Down 1.0%

Shares of NYSE:OSG opened at $6.36 on Monday. Octave Specialty Group has a fifty-two week low of $3.88 and a fifty-two week high of $10.38. The firm’s 50 day moving average price is $5.62 and its 200 day moving average price is $5.51. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a market cap of $286.13 million, a price-to-earnings ratio of -1.31 and a beta of 0.83.

Octave Specialty Group (NYSE:OSG) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.02 by $0.35. The company had revenue of $104.17 million during the quarter, compared to analysts’ expectations 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 predict that Octave Specialty Group will post 0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its holdings in shares of Octave Specialty Group by 9.9% during the second quarter. The Manufacturers Life Insurance Company now owns 17,993 shares of the company’s stock worth $128,000 after buying an additional 1,615 shares during the last quarter. Bridgeway Capital Management LLC lifted its position 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 acquiring an additional 2,244 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Octave Specialty Group by 10.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 34,555 shares of the company’s stock valued at $288,000 after purchasing an additional 3,324 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Octave Specialty Group by 613.5% in the third quarter. Russell Investments Group Ltd. now owns 4,916 shares of the company’s stock valued at $41,000 after purchasing an additional 4,227 shares during the period. Finally, Federated Hermes Inc. purchased a new stake in shares of Octave Specialty Group during the fourth quarter worth approximately $34,000. 80.92% of the stock is currently owned by institutional investors and hedge funds.

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.