Prescott Group Capital Management L.L.C. Takes Position in Octave Specialty Group, Inc. $OSG

Prescott Group Capital Management L.L.C. bought a new stake in Octave Specialty Group, Inc. (NYSE:OSG) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 893,517 shares of the company’s stock, valued at approximately $6,952,000. Prescott Group Capital Management L.L.C. owned 2.04% of Octave Specialty Group as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. grew its position in shares of Octave Specialty Group by 613.5% in the third quarter. Russell Investments Group Ltd. now owns 4,916 shares of the company’s stock valued at $41,000 after purchasing an additional 4,227 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Octave Specialty Group in the second quarter valued at about $37,000. CWM LLC acquired a new stake in shares of Octave Specialty Group in the fourth quarter valued at about $44,000. Inscription Capital LLC acquired a new stake in shares of Octave Specialty Group in the fourth quarter valued at about $84,000. Finally, Crown Wealth Group LLC acquired a new position in Octave Specialty Group during the fourth quarter worth about $87,000. Institutional investors and hedge funds own 80.92% of the company’s stock.

Octave Specialty Group Stock Performance

OSG opened at $5.85 on Thursday. The firm has a market capitalization of $263.22 million, a PE ratio of -1.20 and a beta of 0.79. Octave Specialty Group, Inc. has a twelve month low of $3.88 and a twelve month high of $10.38. The firm’s 50-day moving average price is $4.87 and its 200 day moving average price is $5.94. The company has a current ratio of 1.05, a quick 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 analysts’ consensus estimates of $0.02 by $0.35. Octave Specialty Group had a negative net margin of 75.91% and a negative return on equity of 0.55%. The firm had revenue of $104.17 million for the quarter, compared to analyst estimates of $17.77 million. As a group, sell-side analysts expect that Octave Specialty Group, Inc. will post 0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

OSG has been the topic of a number of recent research reports. Weiss Ratings lowered shares of Octave Specialty Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Octave Specialty Group from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Zacks Research upgraded shares of Octave Specialty Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” 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.