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

Key Points

• Analysts maintain a “Hold” consensus on Octave Specialty Group, with one sell, two hold and two buy ratings. The average 12-month price target is $11.50, well above the stock’s recent $4.41 price.
• Institutional ownership stands at 80.92%, with several investment firms recently initiating or expanding positions in the company.
• Octave Specialty Group reported a quarterly loss of $0.04 per share, missing the $0.01 loss consensus estimate. The company posted $83 million in revenue but continues to operate with a negative net margin of 51.10%.

Shares of Octave Specialty Group, Inc. (NYSE:OSG - Get Free Report) have been given an average recommendation of "Hold" by the five analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $11.50.

OSG has been the topic of several research analyst reports. Weiss Ratings raised Octave Specialty Group from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday. Zacks Research lowered shares of Octave Specialty Group from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Finally, Keefe, Bruyette & Woods began coverage on shares of Octave Specialty Group in a research report on Friday, August 28th. They issued an "outperform" rating and a $8.00 price objective for the company.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OSG. Parallel Advisors LLC lifted its stake in Octave Specialty Group by 4,186.8% in the first quarter. Parallel Advisors LLC now owns 6,473 shares of the company's stock worth $30,000 after acquiring an additional 6,322 shares during the period. Versant Capital Management Inc bought a new stake in shares of Octave Specialty Group in the 2nd quarter valued at about $52,000. Aire Advisors LLC bought a new stake in shares of Octave Specialty Group in the 1st quarter valued at about $63,000. Able Wealth Management LLC purchased a new stake in shares of Octave Specialty Group in the 1st quarter worth approximately $71,000. Finally, Anchyra Partners LLC purchased a new stake in shares of Octave Specialty Group in the 1st quarter worth approximately $76,000. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

Octave Specialty Group Price Performance

Octave Specialty Group stock opened at $4.41 on Tuesday. Octave Specialty Group has a 12-month low of $3.88 and a 12-month high of $10.38. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $5.07 and a 200-day moving average price of $5.22. The firm has a market capitalization of $198.67 million, a PE ratio of -1.21 and a beta of 0.83.

Octave Specialty Group (NYSE:OSG - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03). The firm had revenue of $83.00 million for the quarter, compared to the consensus estimate of $22.79 million. Octave Specialty Group had a negative net margin of 51.10% and a positive return on equity of 0.44%. As a group, equities research analysts forecast that Octave Specialty Group will post 0.19 EPS for the current year.

About Octave Specialty Group

Ambac Financial Group, Inc operates as a financial services holding company. It operates three businesses: Specialty Property and Casualty Insurance, Insurance Distribution, and Legacy Financial Guarantee (LFG) Insurance. The Specialty Property and Casualty Insurance business provides specialty property and casualty program insurance with a focus commercial and personal liability risks. The Insurance Distribution business includes the specialty property and casualty insurance distribution business, which includes managing general agents and underwriters, insurance wholesalers, brokers, and other distribution businesses.

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