Octave Specialty Group (NYSE:OSG) Issues Quarterly Earnings Results

Octave Specialty Group (NYSE:OSG) released its quarterly earnings data on Thursday. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03), Zacks reports. 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 0.43% and a negative net margin of 51.10%.

Octave Specialty Group Stock Down 13.2%

NYSE OSG traded down $0.75 during trading hours on Friday, hitting $4.91. The company had a trading volume of 1,124,866 shares, compared to its average volume of 317,304. Octave Specialty Group has a fifty-two week low of $3.88 and a fifty-two week high of $10.38. The company has a market capitalization of $221.09 million, a price-to-earnings ratio of -1.35 and a beta of 0.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s 50 day moving average is $5.83 and its 200 day moving average is $5.48.

Analyst Ratings Changes

A number of analysts have recently issued reports on OSG shares. Zacks Research cut Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Weiss Ratings lowered shares of Octave Specialty Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. 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 stock. According to data from MarketBeat, Octave Specialty Group currently has an average rating of “Hold” and a consensus target price of $15.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company acquired a new stake in Octave Specialty Group in the fourth quarter valued at approximately $98,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Octave Specialty Group during the fourth quarter valued at approximately $92,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Octave Specialty Group during the fourth quarter worth $98,000. Cerity Partners LLC acquired a new position in shares of Octave Specialty Group during the fourth quarter worth $88,000. Finally, Franklin Resources Inc. purchased a new position in shares of Octave Specialty Group in the fourth quarter valued at $93,000. Institutional investors and hedge funds own 80.92% of the company’s stock.

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.