RIHO Partners LLC Makes New $2.54 Million Investment in Octave Specialty Group, Inc. $OSG

RIHO Partners LLC bought a new position in shares of Octave Specialty Group, Inc. (NYSE:OSG) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 546,569 shares of the company’s stock, valued at approximately $2,542,000. Octave Specialty Group accounts for about 1.6% of RIHO Partners LLC’s investment portfolio, making the stock its 13th largest holding. RIHO Partners LLC owned approximately 1.21% of Octave Specialty Group at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in OSG. Renaissance Technologies LLC lifted its holdings in Octave Specialty Group by 805.2% during the 1st quarter. Renaissance Technologies LLC now owns 227,726 shares of the company’s stock worth $1,059,000 after buying an additional 202,568 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Octave Specialty Group during the 1st quarter valued at approximately $320,000. Sei Investments Co. lifted its stake in shares of Octave Specialty Group by 133.9% in the 1st quarter. Sei Investments Co. now owns 156,078 shares of the company’s stock worth $726,000 after acquiring an additional 89,360 shares during the period. State of Wyoming raised its holdings in Octave Specialty Group by 49.5% during the first quarter. State of Wyoming now owns 28,784 shares of the company’s stock worth $134,000 after purchasing an additional 9,535 shares in the last quarter. Finally, Commonwealth Financial Services LLC purchased a new stake in shares of Octave Specialty Group in the first quarter valued at approximately $135,000. 80.92% of the stock is currently owned by institutional investors and hedge funds.

Octave Specialty Group Stock Performance

Octave Specialty Group stock opened at $5.58 on Monday. The company has a market cap of $251.38 million, a PE ratio of -1.15 and a beta of 0.83. Octave Specialty Group, Inc. has a 12 month low of $3.88 and a 12 month high of $10.38. The company has a fifty day moving average price of $5.84 and a two-hundred day moving average price of $5.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05.

Octave Specialty Group (NYSE:OSG) last posted its earnings results on Wednesday, May 6th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.02 by $0.35. The company had revenue of $104.17 million during the quarter, compared to analyst estimates of $17.77 million. Octave Specialty Group had a negative return on equity of 0.55% and a negative net margin of 75.91%. Research analysts expect that Octave Specialty Group, Inc. will post 0.45 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on OSG shares. Weiss Ratings raised shares of Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. Zacks Research downgraded Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.00.

Octave Specialty Group 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.