Octave Specialty Group (NYSE:OSG) Issues Quarterly Earnings Results

Octave Specialty Group (NYSE:OSG) issued its quarterly earnings results on Wednesday. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.35, FiscalAI reports. Octave Specialty Group had a negative net margin of 75.91% and a negative return on equity of 0.55%. The firm had revenue of $104.17 million for the quarter, compared to analyst estimates of $17.77 million.

Octave Specialty Group Stock Performance

NYSE:OSG traded down $0.70 during mid-day trading on Friday, hitting $5.36. The stock had a trading volume of 1,645,085 shares, compared to its average volume of 900,130. Octave Specialty Group has a twelve month low of $3.88 and a twelve month high of $10.38. The stock has a market cap of $241.03 million, a price-to-earnings ratio of -1.10 and a beta of 0.79. The company’s 50 day simple moving average is $4.84 and its 200 day simple moving average is $6.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.06 and a current ratio of 1.05.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OSG. Weiss Ratings upgraded shares of Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, April 24th. Wall Street Zen upgraded shares of Octave Specialty Group from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $15.00.

Institutional Investors Weigh In On Octave Specialty Group

Hedge funds have recently bought and sold shares of the company. Aquatic Capital Management LLC acquired a new stake in Octave Specialty Group in the 3rd quarter valued at about $105,000. State Board of Administration of Florida Retirement System acquired a new stake in Octave Specialty Group in the 4th quarter valued at about $98,000. The Manufacturers Life Insurance Company acquired a new stake in Octave Specialty Group in the 4th quarter valued at about $98,000. nVerses Capital LLC acquired a new stake in Octave Specialty Group in the 4th quarter valued at about $95,000. Finally, Franklin Resources Inc. acquired a new stake in Octave Specialty Group in the 4th quarter valued at about $93,000. 80.92% of the stock is currently owned by institutional investors and hedge funds.

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.