Octave Specialty Group (NYSE:OSG) Raised to “Hold” at Zacks Research

Octave Specialty Group (NYSE:OSG) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

Several other equities research analysts have also recently issued reports on OSG. Keefe, Bruyette & Woods assumed coverage on Octave Specialty Group in a report on Friday, August 28th. They set an “outperform” rating and a $8.00 price objective on the stock. Weiss Ratings upgraded Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, October 21st. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.50.

Octave Specialty Group Stock Performance

Shares of OSG opened at $5.20 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $234.03 million, a price-to-earnings ratio of -1.42 and a beta of 0.76. The company’s 50 day simple moving average is $4.65 and its 200 day simple moving average is $5.22. 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 earnings results on Thursday, August 6th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03). The firm had revenue of $83.00 million during the quarter, compared to analysts’ expectations of $22.79 million. Octave Specialty Group had a positive return on equity of 0.44% and a negative net margin of 51.10%. On average, sell-side analysts predict that Octave Specialty Group will post 0.19 EPS for the current year.

Hedge Funds Weigh In On Octave Specialty Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC boosted its holdings in shares of Octave Specialty Group by 4,186.8% in the 1st quarter. Parallel Advisors LLC now owns 6,473 shares of the company’s stock valued at $30,000 after purchasing an additional 6,322 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of Octave Specialty Group during the 2nd quarter valued at $52,000. Vise Technologies Inc. purchased a new stake in shares of Octave Specialty Group during the 3rd quarter valued at $54,000. Aire Advisors LLC acquired a new stake in shares of Octave Specialty Group during the 1st quarter worth $63,000. Finally, Chicago Partners Investment Group LLC increased its holdings in shares of Octave Specialty Group by 46.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 15,229 shares of the company’s stock worth $72,000 after buying an additional 4,834 shares during the last quarter. 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.

The company serves the specialty insurance market through relationships with brokers, agents and other distribution partners.