Octave Specialty Group (NYSE:OSG) Stock Rating Upgraded by Zacks Research

Octave Specialty Group (NYSE:OSG) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

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

Octave Specialty Group Stock Up 3.7%

Shares of NYSE:OSG opened at $5.20 on Tuesday. The stock’s 50-day moving average price is $4.65 and its 200-day moving average price is $5.22. Octave Specialty Group has a 12-month low of $3.88 and a 12-month high of $10.38. The stock has a market capitalization of $234.03 million, a P/E ratio of 50.10 and a beta of 0.76. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19.

Octave Specialty Group (NYSE:OSG) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03). Octave Specialty Group had a positive return on equity of 0.44% and a negative net margin of 51.10%. The company had revenue of $83.00 million during the quarter, compared to analysts’ expectations of $22.79 million. On average, equities analysts anticipate that Octave Specialty Group will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On Octave Specialty Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. RIHO Partners LLC purchased a new stake in Octave Specialty Group in the first quarter worth $2,542,000. Prescott Group Capital Management L.L.C. boosted its holdings in Octave Specialty Group by 17.1% in the third quarter. Prescott Group Capital Management L.L.C. now owns 1,930,145 shares of the company’s stock valued at $7,991,000 after acquiring an additional 282,352 shares in the last quarter. Renaissance Technologies LLC increased its position in Octave Specialty Group by 805.2% during the 1st quarter. Renaissance Technologies LLC now owns 227,726 shares of the company’s stock valued at $1,059,000 after purchasing an additional 202,568 shares during the period. Bank of New York Mellon Corp purchased a new position in Octave Specialty Group during the 2nd quarter valued at $842,000. Finally, Lone Peak Global Investors LLC purchased a new position in Octave Specialty Group during the 2nd quarter valued at $672,000. Institutional investors 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.