Octave Specialty Group (NYSE:OSG) Coverage Initiated by Analysts at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods started coverage on shares of Octave Specialty Group (NYSE:OSG) in a report released on Friday. The brokerage set an “outperform” rating and a $8.00 price target on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 77.58% from the company’s current price.

Several other analysts also recently commented on OSG. Weiss Ratings raised Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. Zacks Research downgraded Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $11.50.

Octave Specialty Group Trading Down 2.1%

Shares of Octave Specialty Group stock opened at $4.50 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $202.95 million, a P/E ratio of -1.23 and a beta of 0.85. Octave Specialty Group has a 1 year low of $3.88 and a 1 year high of $10.38. The company’s fifty day moving average is $5.57 and its two-hundred day moving average is $5.33.

Octave Specialty Group (NYSE:OSG) last announced its earnings results on Thursday, August 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.03). Octave Specialty Group had a positive return on equity of 0.44% and a negative net margin of 51.10%.The business had revenue of $83.00 million for the quarter, compared to analyst estimates of $22.79 million. Analysts forecast that Octave Specialty Group will post 0.19 earnings per share for the current year.

Institutional Trading of Octave Specialty Group

Institutional investors have recently modified their holdings of the business. Corient Private Wealth LP purchased a new position in Octave Specialty Group in the second quarter worth $77,000. Lone Peak Global Investors LLC purchased a new stake in shares of Octave Specialty Group during the 2nd quarter worth $672,000. Public Employees Retirement System of Ohio acquired a new position in shares of Octave Specialty Group during the 2nd quarter worth $383,000. Bank of New York Mellon Corp acquired a new position in shares of Octave Specialty Group during the 2nd quarter worth $842,000. Finally, Versant Capital Management Inc purchased a new position in shares of Octave Specialty Group in the 2nd quarter valued at about $52,000. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

Octave Specialty Group Company 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.