Octave Specialty Group, Inc. (NYSE:OSG) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analyst consensus is “Hold”: Of five analysts covering Octave Specialty Group, two rate it a buy, two a hold and one a sell. The average 12-month price target is $11.50.
• Shares remain well below recent highs: OSG traded at $4.71, versus a 12-month range of $3.88 to $10.38, with the stock below both its 50-day and 200-day moving averages.
• Recent earnings missed expectations: The company reported a quarterly loss of $0.04 per share, versus the estimated loss of $0.01, although revenue of $83 million exceeded the $22.79 million consensus estimate. Institutional investors own approximately 80.9% of the stock.

Shares of Octave Specialty Group, Inc. (NYSE:OSG - Get Free Report) have been given an average recommendation of "Hold" by the five research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $11.50.

Several research firms have weighed in on OSG. Weiss Ratings raised Octave Specialty Group from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, August 20th. 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. Finally, Keefe, Bruyette & Woods began coverage on shares of Octave Specialty Group in a report on Friday. They issued an "outperform" rating and a $8.00 price target on the stock.

Octave Specialty Group Price Performance

NYSE:OSG traded up $0.20 during mid-day trading on Friday, hitting $4.71. 259,716 shares of the stock traded hands, compared to its average volume of 596,807. The business's 50-day moving average price is $5.57 and its 200 day moving average price is $5.33. The company has a market cap of $212.19 million, a PE ratio of -1.29 and a beta of 0.85. Octave Specialty Group has a 12-month low of $3.88 and a 12-month high of $10.38. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.19.

Octave Specialty Group (NYSE:OSG - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.03). Octave Specialty Group had a positive return on equity of 0.44% and a negative net margin of 51.10%.The firm had revenue of $83.00 million during the quarter, compared to analysts' expectations of $22.79 million. On average, analysts expect that Octave Specialty Group will post 0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OSG. Western Standard LLC purchased a new position in shares of Octave Specialty Group in the 4th quarter worth about $19,486,000. Wolf Hill Capital Management LP bought a new position in shares of Octave Specialty Group during the 4th quarter valued at about $14,696,000. Dimensional Fund Advisors LP purchased a new position in shares of Octave Specialty Group during the 4th quarter valued at about $13,114,000. Gendell Jeffrey L bought a new stake in Octave Specialty Group in the 4th quarter worth approximately $12,210,000. Finally, Geode Capital Management LLC purchased a new stake in Octave Specialty Group in the fourth quarter worth approximately $7,973,000. 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.

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