Octave Specialty Group, Inc. (NYSE:OSG) Stock Rated “Hold” by Wall Street Analysts

Shares of Octave Specialty Group, Inc. (NYSE:OSG) have been given an average rating of “Hold” by the five research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $11.50.

OSG has been the topic of a number of research reports. Zacks Research upgraded Octave Specialty Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 3rd. Weiss Ratings cut Octave Specialty Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Octave Specialty Group in a research report on Friday, August 28th. They set an “outperform” rating and a $8.00 target price on the stock.

Octave Specialty Group Stock Up 2.4%

Shares of OSG opened at $5.39 on Wednesday. Octave Specialty Group has a 52-week low of $3.88 and a 52-week high of $10.38. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $4.71 and a two-hundred day simple moving average of $5.20. The company has a market capitalization of $243.04 million, a PE ratio of -3.35 and a beta of 0.76.

Octave Specialty Group (NYSE:OSG) last announced its quarterly earnings results on Monday, November 9th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $85.34 million for the quarter, compared to analyst estimates of $23.22 million. Octave Specialty Group had a negative net margin of 19.17% and a positive return on equity of 1.50%. As a group, equities analysts forecast that Octave Specialty Group will post 0.19 EPS for the current year.

Institutional Trading of Octave Specialty Group

A number of large investors have recently bought and sold shares of OSG. Parallel Advisors LLC grew its position in Octave Specialty Group by 4,186.8% during the 1st quarter. Parallel Advisors LLC now owns 6,473 shares of the company’s stock worth $30,000 after purchasing an additional 6,322 shares during the last quarter. Versant Capital Management Inc acquired a new stake in shares of Octave Specialty Group during the second quarter worth about $52,000. Corient Private Wealth LP acquired a new stake in shares of Octave Specialty Group during the second quarter worth about $77,000. Vise Technologies Inc. acquired a new stake in shares of Octave Specialty Group during the third quarter worth about $54,000. Finally, Aire Advisors LLC purchased a new position in shares of Octave Specialty Group during the first quarter worth about $63,000. Institutional investors and hedge funds own 80.92% of the company’s stock.

Octave Specialty Group Company Profile

Octave Specialty Group Inc. is a specialty insurance company that provides underwriting solutions for complex, specialized and difficult-to-place risks. The company operates through specialty insurance platforms designed to serve customers and distribution partners seeking coverage outside standard commercial insurance markets. Its business activities include the development, underwriting and management of specialty insurance products across selected lines of business. Octave’s offerings are intended for niche risks that may require specialized expertise, tailored policy structures and disciplined risk selection.