Wolf Hill Capital Management LP Buys Shares of 1,888,973 Octave Specialty Group, Inc. $OSG

Wolf Hill Capital Management LP bought a new stake in Octave Specialty Group, Inc. (NYSE:OSG) during the 4th quarter, Holdings Channel.com reports. The firm bought 1,888,973 shares of the company’s stock, valued at approximately $14,696,000. Octave Specialty Group comprises approximately 1.6% of Wolf Hill Capital Management LP’s holdings, making the stock its 15th biggest position.

Several other institutional investors have also recently bought and sold shares of OSG. Federated Hermes Inc. bought a new stake in Octave Specialty Group in the 4th quarter valued at approximately $34,000. Russell Investments Group Ltd. lifted its stake in 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 acquiring an additional 4,227 shares in the last quarter. CWM LLC bought a new stake in Octave Specialty Group in the 4th quarter valued at approximately $44,000. New York State Common Retirement Fund bought a new stake in Octave Specialty Group in the 4th quarter valued at approximately $78,000. Finally, Inscription Capital LLC bought a new stake in Octave Specialty Group in the 4th quarter valued at approximately $84,000. Institutional investors own 80.92% of the company’s stock.

Octave Specialty Group Stock Up 0.3%

NYSE:OSG opened at $5.62 on Monday. The firm has a market capitalization of $252.78 million, a price-to-earnings ratio of -1.16 and a beta of 0.86. Octave Specialty Group, Inc. has a twelve month low of $3.88 and a twelve month high of $10.38. The stock’s 50 day moving average price is $5.07 and its two-hundred day moving average price is $5.60. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14.

Octave Specialty Group (NYSE:OSG) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.35. The firm had revenue of $104.17 million for the quarter, compared to analyst estimates of $17.77 million. Octave Specialty Group had a negative return on equity of 0.55% and a negative net margin of 75.91%. Equities research analysts expect that Octave Specialty Group, Inc. will post 0.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on OSG. Weiss Ratings lowered Octave Specialty Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 4th. Wall Street Zen raised Octave Specialty Group from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Zacks Research raised Octave Specialty Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Octave Specialty Group currently has an average rating of “Moderate Buy” and an average target price of $15.00.

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.