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

Octave Specialty Group (NYSE:OSG) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other equities analysts have also commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Octave Specialty Group in a research note on Monday, December 29th. Truist Financial boosted their price objective on shares of Octave Specialty Group from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Finally, DOWLING & PARTN downgraded shares of Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.00.

Octave Specialty Group Price Performance

OSG opened at $5.33 on Friday. The firm has a market cap of $233.33 million, a price-to-earnings ratio of -0.90 and a beta of 0.86. Octave Specialty Group has a fifty-two week low of $4.97 and a fifty-two week high of $10.38. The company has a quick ratio of 1.26, a current ratio of 1.06 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $5.93 and its 200 day moving average price is $7.38.

Insider Activity

In other Octave Specialty Group news, CEO Claude Leblanc purchased 12,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was purchased at an average cost of $7.59 per share, for a total transaction of $91,080.00. Following the transaction, the chief executive officer owned 1,033,777 shares in the company, valued at $7,846,367.43. The trade was a 1.17% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 9.29% of the company’s stock.

Institutional Trading of Octave Specialty Group

Several institutional investors and hedge funds have recently modified their holdings of OSG. Western Standard LLC bought a new position in Octave Specialty Group during the third quarter valued at $22,029,000. Wolf Hill Capital Management LP purchased a new position in shares of Octave Specialty Group in the fourth quarter worth about $14,696,000. Dimensional Fund Advisors LP purchased a new position in shares of Octave Specialty Group in the fourth quarter valued at about $13,114,000. Gendell Jeffrey L bought a new position in shares of Octave Specialty Group during the fourth quarter valued at approximately $12,210,000. Finally, Continental General Insurance Co. purchased a new stake in Octave Specialty Group in the second quarter worth about $8,650,000. 80.92% of the stock is owned by hedge funds and other institutional investors.

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.