Shares of Octave Specialty Group, Inc. (NYSE:OSG – Get Free Report) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $5.21 and traded as low as $5.03. Octave Specialty Group shares last traded at $5.1250, with a volume of 361,911 shares changing hands.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on OSG shares. Keefe, Bruyette & Woods began coverage on shares of Octave Specialty Group in a research note on Friday, August 28th. They set an “outperform” rating and a $8.00 price objective 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. Finally, Zacks Research raised Octave Specialty Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Two investment 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 MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.50.
Read Our Latest Research Report on Octave Specialty Group
Octave Specialty Group Trading Down 2.4%
The stock has a market cap of $225.93 million, a PE ratio of -1.37 and a beta of 0.76. The business has a 50-day moving average of $4.67 and a 200 day moving average of $5.21. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.92 and a current ratio of 0.92.
Octave Specialty Group (NYSE:OSG – Get Free Report) last announced its earnings results 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). Octave Specialty Group had a negative net margin of 51.10% and a positive return on equity of 0.44%. The firm had revenue of $83.00 million during the quarter, compared to analyst estimates of $22.79 million. Equities research analysts predict that Octave Specialty Group, Inc. will post 0.19 EPS for the current fiscal year.
Institutional Trading of Octave Specialty Group
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Chicago Partners Investment Group LLC raised its holdings in Octave Specialty Group by 46.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 15,229 shares of the company’s stock valued at $72,000 after acquiring an additional 4,834 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Octave Specialty Group by 4,186.8% during the first quarter. Parallel Advisors LLC now owns 6,473 shares of the company’s stock worth $30,000 after purchasing an additional 6,322 shares during the last quarter. Versant Capital Management Inc acquired a new stake in shares of Octave Specialty Group during the second quarter worth $52,000. State of Wyoming boosted its holdings in shares of Octave Specialty Group by 49.5% during the first quarter. State of Wyoming now owns 28,784 shares of the company’s stock worth $134,000 after purchasing an additional 9,535 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Octave Specialty Group by 11.3% during the first quarter. Hsbc Holdings PLC now owns 102,430 shares of the company’s stock worth $476,000 after purchasing an additional 10,390 shares during the last quarter. 80.92% of the stock is owned by hedge funds and other institutional investors.
About Octave Specialty Group
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.
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