Octave Specialty Group (NYSE:OSG) Stock Lifted to Hold by Zacks Research

Zacks Research upgraded shares of Octave Specialty Group (NYSE:OSG) from a strong sell rating to a hold rating in a research report released on Tuesday morning,Zacks reports.

OSG has been the subject of several other reports. Keefe, Bruyette & Woods initiated coverage on Octave Specialty Group in a research report on Friday, August 28th. They set an “outperform” rating and a $8.00 price objective for the company. Weiss Ratings raised Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, October 21st. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Octave Specialty Group currently has an average rating of “Hold” and an average price target of $11.50.

Octave Specialty Group Stock Up 3.7%

NYSE OSG opened at $5.20 on Tuesday. The business has a fifty day moving average price of $4.65 and a two-hundred day moving average price of $5.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.92 and a quick ratio of 0.92. Octave Specialty Group has a fifty-two week low of $3.88 and a fifty-two week high of $10.38. The stock has a market capitalization of $234.03 million, a PE ratio of -1.42 and a beta of 0.76.

Octave Specialty Group (NYSE:OSG) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.04) earnings per share (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 the consensus estimate of $22.79 million. Equities analysts expect that Octave Specialty Group will post 0.19 earnings per share for the current fiscal year.

Institutional Trading of Octave Specialty Group

A number of hedge funds and other institutional investors have recently modified their holdings of OSG. Prescott Group Capital Management L.L.C. boosted its holdings in shares of Octave Specialty Group by 17.1% during the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 1,930,145 shares of the company’s stock valued at $7,991,000 after acquiring an additional 282,352 shares in the last quarter. RIHO Partners LLC bought a new stake in Octave Specialty Group during the 1st quarter worth $2,542,000. Renaissance Technologies LLC increased 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 purchasing an additional 202,568 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Octave Specialty Group in the 2nd quarter worth about $842,000. Finally, Sei Investments Co. increased its holdings in Octave Specialty Group by 133.9% in the 1st quarter. Sei Investments Co. now owns 156,078 shares of the company’s stock worth $726,000 after purchasing an additional 89,360 shares in the last quarter. Institutional investors own 80.92% of the company’s stock.

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.