Octave Specialty Group, Inc. (NYSE:OSG) Stock Has Average Target Price of $11.50 According to Analysts

Octave Specialty Group, Inc. (NYSE:OSG) has received an average rating of “Hold” from the five analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $11.50.

Several brokerages have recently weighed in on OSG. Weiss Ratings upgraded Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 17th. 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 for the company. Finally, Zacks Research downgraded Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th.

Institutional Investors Weigh In On Octave Specialty Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its stake in Octave Specialty Group by 4,186.8% in the 1st quarter. Parallel Advisors LLC now owns 6,473 shares of the company’s stock worth $30,000 after acquiring an additional 6,322 shares in the last quarter. Versant Capital Management Inc bought a new position in Octave Specialty Group in the second quarter worth approximately $52,000. Corient Private Wealth LP bought a new position in Octave Specialty Group in the second quarter worth approximately $77,000. Aire Advisors LLC purchased a new position in Octave Specialty Group during the 1st quarter worth $63,000. Finally, Able Wealth Management LLC bought a new stake in Octave Specialty Group during the 1st quarter valued at $71,000. Institutional investors own 80.92% of the company’s stock.

Octave Specialty Group Price Performance

OSG stock opened at $4.14 on Tuesday. The stock has a market cap of $186.73 million, a PE ratio of -1.14 and a beta of 0.83. Octave Specialty Group has a 12 month low of $3.88 and a 12 month high of $10.38. The company has a 50-day moving average price of $4.97 and a 200 day moving average price of $5.19. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19.

Octave Specialty Group (NYSE:OSG) last posted its quarterly earnings data 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 firm had revenue of $83.00 million during the quarter, compared to analysts’ expectations of $22.79 million. Equities research analysts anticipate that Octave Specialty Group will post 0.19 earnings per share for the current year.

Octave Specialty Group Company Profile

Ambac Financial Group, Inc operates as a financial services holding company. It operates three businesses: Specialty Property and Casualty Insurance, Insurance Distribution, and Legacy Financial Guarantee (LFG) Insurance. The Specialty Property and Casualty Insurance business provides specialty property and casualty program insurance with a focus commercial and personal liability risks. The Insurance Distribution business includes the specialty property and casualty insurance distribution business, which includes managing general agents and underwriters, insurance wholesalers, brokers, and other distribution businesses.