Prescott Group Capital Management L.L.C. Purchases 282,352 Shares of Octave Specialty Group, Inc. $OSG

Prescott Group Capital Management L.L.C. grew its holdings in shares of Octave Specialty Group, Inc. (NYSE:OSG) by 17.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,930,145 shares of the company’s stock after purchasing an additional 282,352 shares during the quarter. Prescott Group Capital Management L.L.C. owned about 4.28% of Octave Specialty Group worth $7,991,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. RIHO Partners LLC purchased a new stake in shares of Octave Specialty Group during the 1st quarter valued at approximately $2,542,000. Renaissance Technologies LLC boosted its holdings in Octave Specialty Group by 805.2% in the 1st quarter. Renaissance Technologies LLC now owns 227,726 shares of the company’s stock worth $1,059,000 after buying an additional 202,568 shares during the period. Bank of New York Mellon Corp bought a new position in Octave Specialty Group in the 2nd quarter worth approximately $842,000. Hsbc Holdings PLC bought a new position in Octave Specialty Group in the 4th quarter worth approximately $713,000. Finally, Lazard Asset Management LLC bought a new position in shares of Octave Specialty Group in the first quarter worth $136,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OSG shares. Zacks Research cut Octave Specialty Group from a “hold” rating to a “strong sell” rating in a research report on Monday, October 5th. Keefe, Bruyette & Woods began coverage on Octave Specialty Group in a report on Friday, August 28th. They set an “outperform” rating and a $8.00 price objective on the stock. Finally, Weiss Ratings raised Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, October 21st. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $11.50.

Octave Specialty Group Price Performance

NYSE:OSG opened at $5.03 on Wednesday. Octave Specialty Group, Inc. has a 52-week low of $3.88 and a 52-week high of $10.38. The stock has a fifty day moving average of $4.64 and a 200 day moving average of $5.22. 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 firm has a market capitalization of $226.38 million, a price-to-earnings ratio of 52.00 and a beta of 0.76.

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 analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $22.79 million. On average, research analysts expect that Octave Specialty Group, Inc. will post 0.19 EPS 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.

The company serves the specialty insurance market through relationships with brokers, agents and other distribution partners.