Octave Specialty Group (NYSE:OSG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Octave Specialty Group (NYSE:OSG) from a strong sell rating to a hold rating in a research note released on Saturday morning.

OSG has been the subject of several other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Octave Specialty Group in a report on Monday, December 29th. DOWLING & PARTN cut shares of Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Finally, Truist Financial raised their price objective on Octave Specialty Group from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $15.00.

Octave Specialty Group Stock Up 4.0%

NYSE:OSG opened at $5.57 on Friday. The stock has a 50-day simple moving average of $5.92 and a 200 day simple moving average of $7.35. Octave Specialty Group has a 52-week low of $4.97 and a 52-week high of $10.38. The company has a market cap of $243.85 million, a PE ratio of -0.94 and a beta of 0.84. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.06.

Insider Buying and Selling

In related news, CEO Claude Leblanc acquired 12,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were purchased at an average cost of $7.59 per share, for a total transaction of $91,080.00. Following the completion of the acquisition, the chief executive officer directly owned 1,033,777 shares in the company, valued at approximately $7,846,367.43. This trade represents a 1.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC raised its holdings in Octave Specialty Group by 65,933.3% in the 2nd quarter. CWM LLC now owns 3,962 shares of the company’s stock valued at $28,000 after acquiring an additional 3,956 shares during the period. Federated Hermes Inc. bought a new position in shares of Octave Specialty Group during the fourth quarter worth approximately $34,000. Russell Investments Group Ltd. increased its stake in shares of Octave Specialty Group by 613.5% during the third quarter. Russell Investments Group Ltd. now owns 4,916 shares of the company’s stock worth $41,000 after purchasing an additional 4,227 shares during the period. LM Asset IM Inc. acquired a new stake in Octave Specialty Group during the 2nd quarter worth approximately $43,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Octave Specialty Group in the 4th quarter valued at $63,000. Institutional investors and hedge funds own 80.92% of the company’s stock.

Octave Specialty Group Company 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.