Octave Specialty Group, Inc. $OSG Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its stake in shares of Octave Specialty Group, Inc. (NYSE:OSG) by 805.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 227,726 shares of the company’s stock after buying an additional 202,568 shares during the period. Renaissance Technologies LLC’s holdings in Octave Specialty Group were worth $1,059,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Western Standard LLC purchased a new position in shares of Octave Specialty Group during the 4th quarter valued at $19,486,000. Wolf Hill Capital Management LP acquired a new stake in Octave Specialty Group during the fourth quarter valued at $14,696,000. Dimensional Fund Advisors LP acquired a new stake in Octave Specialty Group during the fourth quarter valued at $13,114,000. Gendell Jeffrey L purchased a new position in Octave Specialty Group in the fourth quarter valued at about $12,210,000. Finally, Geode Capital Management LLC bought a new stake in shares of Octave Specialty Group in the 4th quarter valued at approximately $7,973,000. 80.92% of the stock is owned by hedge funds and other institutional investors.

Octave Specialty Group Stock Up 3.9%

Shares of Octave Specialty Group stock opened at $4.89 on Friday. Octave Specialty Group, Inc. has a 12-month low of $3.88 and a 12-month high of $10.38. The stock has a market capitalization of $220.52 million, a P/E ratio of -1.34 and a beta of 0.85. The company has a quick ratio of 1.05, a current ratio of 0.92 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average price of $5.77 and a two-hundred day moving average price of $5.43.

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). The firm had revenue of $83.00 million during the quarter, compared to analyst estimates of $22.79 million. Octave Specialty Group had a positive return on equity of 0.44% and a negative net margin of 51.10%. Equities analysts expect that Octave Specialty Group, Inc. will post 0.33 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on OSG shares. Zacks Research lowered shares of Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings downgraded shares of Octave Specialty Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.