Octave Specialty Group (NYSE:OSG) Stock Rating Upgraded by Zacks Research

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

Other equities analysts have also recently issued research reports about the company. Weiss Ratings cut Octave Specialty Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. Wall Street Zen raised Octave Specialty Group from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Octave Specialty Group Trading Up 5.0%

NYSE:OSG opened at $5.85 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. Octave Specialty Group has a 1-year low of $3.88 and a 1-year high of $10.38. The firm has a market capitalization of $263.22 million, a price-to-earnings ratio of -1.20 and a beta of 0.79. The stock has a fifty day simple moving average of $4.85 and a 200 day simple moving average of $6.08.

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

Hedge Funds Weigh In On Octave Specialty Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC grew its stake in Octave Specialty Group by 4,186.8% during the 1st quarter. Parallel Advisors LLC now owns 6,473 shares of the company’s stock valued at $30,000 after acquiring an additional 6,322 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Octave Specialty Group during the 4th quarter valued at about $34,000. Russell Investments Group Ltd. lifted its holdings in shares of Octave Specialty Group by 613.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,916 shares of the company’s stock valued at $41,000 after buying an additional 4,227 shares during the last quarter. CWM LLC acquired a new stake in shares of Octave Specialty Group during the 4th quarter valued at about $44,000. Finally, Aire Advisors LLC acquired a new stake in shares of Octave Specialty Group during the 1st quarter valued at about $63,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

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.