Octave Specialty Group (NYSE:OSG) Downgraded to Hold Rating by Zacks Research

Octave Specialty Group (NYSE:OSG) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Separately, Weiss Ratings upgraded shares of Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.00.

Octave Specialty Group Stock Down 1.0%

Shares of OSG stock opened at $6.36 on Monday. The stock’s 50 day simple moving average is $5.62 and its 200 day simple moving average is $5.51. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. Octave Specialty Group has a twelve month low of $3.88 and a twelve month high of $10.38. The company has a market capitalization of $286.13 million, a price-to-earnings ratio of -1.31 and a beta of 0.83.

Octave Specialty Group (NYSE:OSG) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.02 by $0.35. Octave Specialty Group had a negative return on equity of 0.55% and a negative net margin of 75.91%.The company had revenue of $104.17 million for the quarter, compared to the consensus estimate of $17.77 million. As a group, research analysts predict that Octave Specialty Group will post 0.45 EPS for the current year.

Hedge Funds Weigh In On Octave Specialty Group

Large investors have recently bought and sold shares of the stock. Western Standard LLC acquired a new position in shares of Octave Specialty Group during the fourth quarter valued at about $19,486,000. Wolf Hill Capital Management LP acquired a new stake in Octave Specialty Group during the fourth quarter worth about $14,696,000. Dimensional Fund Advisors LP bought a new position in Octave Specialty Group during the fourth quarter valued at about $13,114,000. Gendell Jeffrey L acquired a new position in Octave Specialty Group in the 4th quarter valued at approximately $12,210,000. Finally, Geode Capital Management LLC bought a new stake in shares of Octave Specialty Group in the 4th quarter worth approximately $7,973,000. 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.