Octave Specialty Group, Inc. (NYSE:OSG) Stock Rated “Hold” by Sell-Side Analysts

Octave Specialty Group, Inc. (NYSE:OSG – Get Free Report) has been given a consensus rating of “Hold” by the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $11.50.

OSG has been the topic of a number of analyst reports. Weiss Ratings cut Octave Specialty Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 2nd. Zacks Research downgraded shares of Octave Specialty Group from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Octave Specialty Group in a report on Friday, August 28th. They issued an “outperform” rating and a $8.00 target price on the stock.

View Our Latest Stock Analysis on OSG

Hedge Funds Weigh In On Octave Specialty Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LP bought a new position in shares of Octave Specialty Group in the second quarter valued at approximately $77,000. Lone Peak Global Investors LLC acquired a new position in shares of Octave Specialty Group in the 2nd quarter worth approximately $672,000. Public Employees Retirement System of Ohio bought a new stake in Octave Specialty Group during the 2nd quarter worth approximately $383,000. Bank of New York Mellon Corp bought a new stake in Octave Specialty Group during the 2nd quarter worth approximately $842,000. Finally, Versant Capital Management Inc acquired a new stake in Octave Specialty Group during the 2nd quarter valued at $52,000. 80.92% of the stock is currently owned by institutional investors and hedge funds.

Octave Specialty Group Price Performance

OSG traded up $0.06 during midday trading on Friday, reaching $4.66. 358,106 shares of the company’s stock were exchanged, compared to its average volume of 526,934. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $4.59 and a two-hundred day simple moving average of $5.13. The firm has a market capitalization of $209.71 million, a price-to-earnings ratio of -1.28 and a beta of 0.87. Octave Specialty Group has a one year low of $3.88 and a one year high of $10.38.

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

About Octave Specialty Group

(Get Free Report)

Octave Specialty Group, Inc is a specialty insurance platform that operates in the insurance distribution and underwriting market. The company works with insurance brokers, carriers and other industry partners to provide specialized coverage and risk-management solutions for businesses with complex or nonstandard insurance needs.

Its activities may include specialty brokerage, program management and other forms of insurance-related underwriting and placement services. These services are generally designed for risks that may require industry-specific expertise or customized coverage rather than standard commercial insurance products.

Publicly available information about Octave Specialty Group, including its specific product portfolio, operating subsidiaries, geographic footprint and leadership team, is limited.

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Analyst Recommendations for Octave Specialty Group (NYSE:OSG)

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