Octave Specialty Group (NYSE:OSG) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of Octave Specialty Group (NYSE:OSG) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

Separately, Weiss Ratings raised Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Octave Specialty Group currently has an average rating of “Hold” and an average target price of $15.00.

Octave Specialty Group Stock Down 1.0%

Shares of NYSE OSG opened at $6.36 on Monday. The company has a 50 day simple moving average of $5.62 and a 200-day simple moving average of $5.51. The company has a market capitalization of $286.13 million, a P/E ratio of -1.31 and a beta of 0.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. Octave Specialty Group has a 1 year low of $3.88 and a 1 year high of $10.38.

Octave Specialty Group (NYSE:OSG) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.35. The firm had revenue of $104.17 million for the quarter, compared to analysts’ expectations of $17.77 million. Octave Specialty Group had a negative return on equity of 0.55% and a negative net margin of 75.91%. On average, equities research analysts predict that Octave Specialty Group will post 0.45 earnings per share for the current year.

Institutional Trading of Octave Specialty Group

Institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc acquired a new position in Octave Specialty Group during the second quarter worth $52,000. Parallel Advisors LLC grew its stake in shares of Octave Specialty Group by 4,186.8% in the first quarter. Parallel Advisors LLC now owns 6,473 shares of the company’s stock valued at $30,000 after buying an additional 6,322 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Octave Specialty Group in the 1st quarter valued at $136,000. RIHO Partners LLC purchased a new position in Octave Specialty Group during the 1st quarter valued at about $2,542,000. Finally, Renaissance Technologies LLC grew its position in Octave Specialty Group by 805.2% in the 1st quarter. Renaissance Technologies LLC now owns 227,726 shares of the company’s stock valued at $1,059,000 after acquiring an additional 202,568 shares in the last quarter. Institutional investors and hedge funds own 80.92% of the company’s stock.

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.