Octave Specialty Group, Inc. (OSG) - What Are Brokerages Thinking About This Stock?

Key Points

• Analyst sentiment is mixed: OSG has an average “Hold” rating from five analysts, with one sell, two hold, and two buy ratings. The average one-year price target is $11.50.
• Quarterly results beat estimates: The company reported a loss of $0.03 per share, better than the estimated $0.05 loss, and revenue of $85.34 million versus $23.22 million expected. It nevertheless posted a negative net margin of 19.17%.
• Institutional ownership is substantial: Hedge funds and other institutional investors own 80.92% of shares, and several investors increased their holdings during the third quarter.

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

OSG has been the subject of several analyst reports. Zacks Research raised shares of Octave Specialty Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, November 3rd. Keefe, Bruyette & Woods started coverage on shares of Octave Specialty Group in a research note on Friday, August 28th. They set an "outperform" rating and a $8.00 target price on the stock. Finally, Weiss Ratings lowered Octave Specialty Group from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday.

Hedge Funds Weigh In On Octave Specialty Group

A number of institutional investors have recently modified their holdings of OSG. Russell Investments Group Ltd. raised its holdings in shares of Octave Specialty Group by 66.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 324,519 shares of the company's stock valued at $1,344,000 after purchasing an additional 129,473 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Octave Specialty Group by 46.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 15,229 shares of the company's stock valued at $72,000 after acquiring an additional 4,834 shares during the period. Prescott Group Capital Management L.L.C. raised its stake in shares of Octave Specialty Group by 17.1% in the third quarter. Prescott Group Capital Management L.L.C. now owns 1,930,145 shares of the company's stock worth $7,991,000 after purchasing an additional 282,352 shares during the last quarter. Vise Technologies Inc. purchased a new position in Octave Specialty Group during the 3rd quarter worth approximately $54,000. Finally, State of Wyoming raised its holdings in shares of Octave Specialty Group by 31.4% during the third quarter. State of Wyoming now owns 73,251 shares of the company's stock worth $303,000 after purchasing an additional 17,518 shares during the last quarter. 80.92% of the stock is owned by hedge funds and other institutional investors.

Octave Specialty Group Trading Up 2.4%

Shares of Octave Specialty Group stock opened at $5.39 on Wednesday. Octave Specialty Group has a 1 year low of $3.88 and a 1 year high of $10.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $243.04 million, a PE ratio of -3.35 and a beta of 0.76. The company has a 50 day simple moving average of $4.71 and a two-hundred day simple moving average of $5.20.

Octave Specialty Group (NYSE:OSG - Get Free Report) last released its earnings results on Monday, November 9th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. Octave Specialty Group had a negative net margin of 19.17% and a positive return on equity of 1.50%. The company had revenue of $85.34 million for the quarter, compared to analyst estimates of $23.22 million. Analysts expect that Octave Specialty Group will post 0.19 earnings per share for the current fiscal year.

Octave Specialty Group Company Profile

Octave Specialty Group Inc. is a specialty insurance company that provides underwriting solutions for complex, specialized and difficult-to-place risks. The company operates through specialty insurance platforms designed to serve customers and distribution partners seeking coverage outside standard commercial insurance markets. Its business activities include the development, underwriting and management of specialty insurance products across selected lines of business. Octave's offerings are intended for niche risks that may require specialized expertise, tailored policy structures and disciplined risk selection.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.