Dimensional Fund Advisors LP Reduces Stake in Octave Specialty Group, Inc. $OSG

Key Points

• Dimensional Fund Advisors reduced its Octave Specialty Group stake by 22.3%, selling 375,495 shares and retaining 1.31 million shares worth approximately $6.1 million. Institutional investors collectively own 80.92% of the company.
• Analyst sentiment is mixed: Zacks Research downgraded the stock to “hold,” Weiss Ratings maintained a “sell” view, and the overall consensus rating is Hold with a $15.00 price target.
• OSG opened at $4.55, near the lower end of its 52-week range, after reporting a quarterly loss of $0.04 per share versus the $0.01 consensus loss estimate. The company posted $83 million in revenue and a negative net margin of 51.10%.

Dimensional Fund Advisors LP lessened its holdings in Octave Specialty Group, Inc. (NYSE:OSG - Free Report) by 22.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,310,132 shares of the company's stock after selling 375,495 shares during the quarter. Dimensional Fund Advisors LP owned about 2.91% of Octave Specialty Group worth $6,092,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC boosted its stake in shares of 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 buying an additional 6,322 shares during the last quarter. Federated Hermes Inc. purchased a new position in Octave Specialty Group during the fourth quarter valued at approximately $34,000. Russell Investments Group Ltd. lifted its holdings in Octave Specialty Group by 613.5% in the third quarter. Russell Investments Group Ltd. now owns 4,916 shares of the company's stock valued at $41,000 after acquiring an additional 4,227 shares during the period. CWM LLC acquired a new position in Octave Specialty Group in the fourth quarter valued at approximately $44,000. Finally, Aire Advisors LLC purchased a new stake in Octave Specialty Group in the 1st quarter worth approximately $63,000. 80.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OSG has been the topic of a number of analyst reports. Zacks Research cut shares of Octave Specialty Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Weiss Ratings cut shares of Octave Specialty Group from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, August 6th. One equities 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 company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $15.00.

Octave Specialty Group Stock Performance

NYSE OSG opened at $4.55 on Wednesday. The stock has a market capitalization of $205.20 million, a price-to-earnings ratio of -1.25 and a beta of 0.85. Octave Specialty Group, Inc. has a twelve month low of $3.88 and a twelve month high of $10.38. The company has a current ratio of 1.03, a quick ratio of 1.05 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average of $5.80 and a 200 day moving average of $5.46.

Octave Specialty Group (NYSE:OSG - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03). Octave Specialty Group had a negative net margin of 51.10% and a positive return on equity of 0.44%. The business had revenue of $83.00 million during the quarter, compared to analyst estimates of $22.79 million. Sell-side analysts anticipate that Octave Specialty Group, Inc. will post 0.45 EPS for the current fiscal year.

About Octave Specialty Group

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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