Legato Capital Management LLC Invests $1.03 Million in Octave Specialty Group, Inc. $OSG

Legato Capital Management LLC bought a new position in Octave Specialty Group, Inc. (NYSE:OSG) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 132,620 shares of the company’s stock, valued at approximately $1,032,000.

Other large investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in shares of 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 buying an additional 4,227 shares during the last quarter. Federated Hermes Inc. bought a new position in Octave Specialty Group during the 2nd quarter valued at about $37,000. CWM LLC purchased a new stake in Octave Specialty Group in the 4th quarter valued at about $44,000. Inscription Capital LLC purchased a new stake in Octave Specialty Group in the 4th quarter valued at about $84,000. Finally, Crown Wealth Group LLC purchased a new stake in Octave Specialty Group in the 4th quarter valued at about $87,000. 80.92% of the stock is currently owned by institutional investors.

Octave Specialty Group Trading Down 0.3%

NYSE:OSG opened at $5.60 on Tuesday. Octave Specialty Group, Inc. has a 52 week low of $3.88 and a 52 week high of $10.38. The firm has a 50 day moving average of $4.89 and a 200 day moving average of $5.89. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $251.83 million, a price-to-earnings ratio of -1.15 and a beta of 0.79.

Octave Specialty Group (NYSE:OSG) last posted its earnings results on Wednesday, May 6th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.35. Octave Specialty Group had a negative net margin of 75.91% and a negative return on equity of 0.55%. The company had revenue of $104.17 million during the quarter, compared to analysts’ expectations of $17.77 million. As a group, sell-side analysts anticipate that Octave Specialty Group, Inc. will post 0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on OSG shares. Wall Street Zen raised shares of Octave Specialty Group from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. Zacks Research raised shares of Octave Specialty Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. Finally, Weiss Ratings cut shares of Octave Specialty Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.