Hsbc Holdings PLC Acquires Shares of 92,040 Octave Specialty Group, Inc. $OSG

Hsbc Holdings PLC bought a new position in shares of Octave Specialty Group, Inc. (NYSE:OSG) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 92,040 shares of the company’s stock, valued at approximately $713,000.

A number of other large investors have also modified their holdings of OSG. Western Standard LLC acquired a new stake in shares of Octave Specialty Group in the fourth quarter valued at about $19,486,000. 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 acquired a new position in Octave Specialty Group during the fourth quarter worth about $13,114,000. Gendell Jeffrey L purchased a new stake in Octave Specialty Group during the 4th quarter valued at about $12,210,000. Finally, Geode Capital Management LLC purchased a new stake in Octave Specialty Group during the 4th quarter valued at about $7,973,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Octave Specialty Group Price Performance

Octave Specialty Group stock opened at $5.82 on Thursday. The company’s 50 day simple moving average is $5.81 and its 200-day simple moving average is $5.51. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. Octave Specialty Group, Inc. has a 1 year low of $3.88 and a 1 year high of $10.38. The company has a market capitalization of $261.76 million, a price-to-earnings ratio of -1.20 and a beta of 0.83.

Octave Specialty Group (NYSE:OSG) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $17.77 million. As a group, equities research analysts expect that Octave Specialty Group, Inc. will post 0.45 earnings per share for the current year.

Wall Street Analyst Weigh In

OSG has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. Zacks Research downgraded Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.