Arrowpoint Investment Partners Singapore Pte. Ltd. Takes Position in Octave Specialty Group, Inc. $OSG

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in Octave Specialty Group, Inc. (NYSE:OSG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 203,011 shares of the company’s stock, valued at approximately $1,693,000. Octave Specialty Group makes up approximately 1.7% of Arrowpoint Investment Partners Singapore Pte. Ltd.’s holdings, making the stock its 15th largest holding. Arrowpoint Investment Partners Singapore Pte. Ltd. owned approximately 0.44% of Octave Specialty Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. bought a new position in shares of Octave Specialty Group in the second quarter valued at $37,000. Russell Investments Group Ltd. increased its holdings in Octave Specialty Group by 613.5% during the 3rd 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 in the last quarter. LM Asset IM Inc. purchased a new stake in shares of Octave Specialty Group in the second quarter worth approximately $43,000. CWM LLC lifted its holdings in shares of Octave Specialty Group by 75.7% in the third quarter. CWM LLC now owns 6,961 shares of the company’s stock valued at $58,000 after purchasing an additional 2,999 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in shares of Octave Specialty Group during the second quarter valued at approximately $84,000. Institutional investors own 80.92% of the company’s stock.

Analyst Ratings Changes

OSG has been the topic of several recent analyst reports. Wall Street Zen upgraded Octave Specialty Group from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. DOWLING & PARTN downgraded shares of Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Octave Specialty Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.00.

Octave Specialty Group Stock Down 1.8%

Shares of NYSE:OSG opened at $5.11 on Friday. The stock has a market capitalization of $229.56 million, a P/E ratio of -0.86 and a beta of 0.84. The stock’s 50-day moving average price is $5.79 and its 200-day moving average price is $7.17. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.14. Octave Specialty Group, Inc. has a 12-month low of $4.97 and a 12-month high of $10.38.

Octave Specialty Group (NYSE:OSG) last issued its earnings results on Monday, February 23rd. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.19. The company had revenue of $66.90 million during the quarter, compared to analysts’ expectations of $84.70 million. Octave Specialty Group had a negative return on equity of 2.87% and a negative net margin of 104.17%. On average, equities analysts anticipate that Octave Specialty Group, Inc. will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Claude Leblanc purchased 12,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was acquired at an average price of $7.59 per share, with a total value of $91,080.00. Following the transaction, the chief executive officer directly owned 1,033,777 shares of the company’s stock, valued at approximately $7,846,367.43. This represents a 1.17% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.29% of the stock is owned by insiders.

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.