Harbor Advisors LLC Takes Position in Octave Specialty Group, Inc. $OSG

Harbor Advisors LLC purchased a new stake in Octave Specialty Group, Inc. (NYSE:OSG) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 196,382 shares of the company’s stock, valued at approximately $1,528,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Federated Hermes Inc. acquired a new position in shares of Octave Specialty Group in the 2nd quarter valued at about $37,000. Russell Investments Group Ltd. boosted its holdings in shares of Octave Specialty Group by 613.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,916 shares of the company’s stock valued at $41,000 after buying an additional 4,227 shares during the period. CWM LLC acquired a new position in shares of Octave Specialty Group in the 4th quarter valued at about $44,000. Cerity Partners LLC acquired a new position in shares of Octave Specialty Group in the 2nd quarter valued at about $84,000. Finally, Inscription Capital LLC acquired a new position in shares of Octave Specialty Group in the 4th quarter valued at about $84,000. 80.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OSG. Wall Street Zen raised shares of Octave Specialty Group from a “strong sell” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings upgraded shares of Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $15.00.

Octave Specialty Group Trading Down 3.4%

Shares of NYSE:OSG opened at $4.42 on Thursday. The company has a market cap of $198.74 million, a PE ratio of -0.74 and a beta of 0.88. The company’s 50-day moving average price is $4.91 and its 200 day moving average price is $6.27. Octave Specialty Group, Inc. has a fifty-two week low of $3.88 and a fifty-two week high of $10.38. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.14.

Octave Specialty Group (NYSE:OSG) last issued its quarterly earnings data on Monday, February 23rd. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.19. The firm had revenue of $66.90 million for the quarter, compared to the consensus estimate of $84.70 million. Octave Specialty Group had a negative net margin of 104.17% and a negative return on equity of 2.87%. Sell-side analysts anticipate that Octave Specialty Group, Inc. will post 0.1 earnings per share for the current year.

Octave Specialty Group 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.