2,504,627 Shares in Octave Specialty Group, Inc. $OSG Acquired by Western Standard LLC

Key Points

• Western Standard LLC bought 2,504,627 shares of Octave Specialty Group in Q4 (about $19.49M), making OSG roughly 9.0% of the fund's portfolio and its 5th largest holding; institutional investors now own about 80.9% of the company.
• Octave massively beat the quarter's estimates with $0.37 EPS vs. $0.02 expected and $104.17M revenue vs. $17.77M expected, but remains unprofitable with a roughly -75.9% net margin and negative return on equity.
• Analysts are mixed (1 Buy, 1 Hold, 1 Sell) with a consensus rating of Hold and a $15.00 average price target.

Western Standard LLC acquired a new position in Octave Specialty Group, Inc. (NYSE:OSG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,504,627 shares of the company's stock, valued at approximately $19,486,000. Octave Specialty Group comprises approximately 9.0% of Western Standard LLC's investment portfolio, making the stock its 5th largest position. Western Standard LLC owned 5.72% of Octave Specialty Group as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its position in Octave Specialty Group by 613.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,916 shares of the company's stock worth $41,000 after purchasing an additional 4,227 shares during the last quarter. Federated Hermes Inc. bought a new position in Octave Specialty Group in the 2nd quarter worth approximately $37,000. CWM LLC bought a new position in Octave Specialty Group in the 4th quarter worth approximately $44,000. Inscription Capital LLC bought a new stake in shares of Octave Specialty Group during the 4th quarter valued at $84,000. Finally, Crown Wealth Group LLC bought a new stake in shares of Octave Specialty Group during the 4th quarter valued at $87,000. Institutional investors own 80.92% of the company's stock.

Octave Specialty Group Stock Performance

Shares of Octave Specialty Group stock opened at $6.12 on Friday. The firm has a fifty day moving average of $4.84 and a two-hundred day moving average of $6.15. The stock has a market capitalization of $275.51 million, a price-to-earnings ratio of -1.26 and a beta of 0.79. Octave Specialty Group, Inc. has a 52 week low of $3.88 and a 52 week high of $10.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.06 and a current ratio of 1.06.

Octave Specialty Group (NYSE:OSG - Get Free Report) last issued 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 analysts' expectations of $17.77 million. Octave Specialty Group had a negative net margin of 75.91% and a negative return on equity of 0.53%. As a group, equities research analysts predict that Octave Specialty Group, Inc. will post 0.1 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on OSG. Weiss Ratings upgraded shares of Octave Specialty Group from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, April 24th. Wall Street Zen upgraded shares of Octave Specialty Group from a "strong sell" rating to a "hold" rating in a research report on Saturday, February 28th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average 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.

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