Tudor Investment Corp ET AL Reduces Holdings in Octave Specialty Group, Inc. $OSG

Tudor Investment Corp ET AL reduced its stake in shares of Octave Specialty Group, Inc. (NYSE:OSG) by 59.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,155 shares of the company’s stock after selling 180,547 shares during the period. Tudor Investment Corp ET AL’s holdings in Octave Specialty Group were worth $1,044,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Western Standard LLC acquired a new stake in Octave Specialty Group during the 3rd quarter valued at $22,029,000. Continental General Insurance Co. acquired a new position in shares of Octave Specialty Group in the second quarter worth $8,650,000. Gendell Jeffrey L lifted its position in shares of Octave Specialty Group by 99.0% in the second quarter. Gendell Jeffrey L now owns 1,198,420 shares of the company’s stock valued at $8,509,000 after acquiring an additional 596,134 shares in the last quarter. Wolf Hill Capital Management LP lifted its position in shares of Octave Specialty Group by 67.0% in the third quarter. Wolf Hill Capital Management LP now owns 1,158,197 shares of the company’s stock valued at $9,659,000 after acquiring an additional 464,753 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Octave Specialty Group by 215.5% during the second quarter. Marshall Wace LLP now owns 648,155 shares of the company’s stock valued at $4,602,000 after acquiring an additional 442,750 shares during the last quarter. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Octave Specialty Group Trading Up 2.8%

Shares of Octave Specialty Group stock opened at $4.63 on Tuesday. Octave Specialty Group, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $10.38. The firm has a market cap of $207.89 million, a PE ratio of -0.78 and a beta of 0.84. The business’s fifty day moving average is $5.57 and its two-hundred day moving average is $6.87. 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 announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.19. The business had revenue of $66.90 million during the quarter, compared to the consensus estimate of $84.70 million. Octave Specialty Group had a negative return on equity of 2.87% and a negative net margin of 104.17%. Analysts anticipate that Octave Specialty Group, Inc. will post 0.6 earnings per share for the current year.

Insider Transactions at Octave Specialty Group

In other Octave Specialty Group news, CEO Claude Leblanc purchased 12,000 shares of the stock in a transaction on Friday, January 2nd. The stock was bought at an average price of $7.59 per share, for a total transaction of $91,080.00. Following the acquisition, the chief executive officer directly owned 1,033,777 shares of the company’s stock, valued at $7,846,367.43. This represents a 1.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 6.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OSG. DOWLING & PARTN cut Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Wall Street Zen upgraded shares of Octave Specialty Group from a “strong sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Octave Specialty Group in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.00.

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.