Wolf Hill Capital Management LP Increases Stock Holdings in Octave Specialty Group, Inc. $OSG

Wolf Hill Capital Management LP increased its stake in Octave Specialty Group, Inc. (NYSE:OSG) by 67.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,158,197 shares of the company’s stock after acquiring an additional 464,753 shares during the quarter. Octave Specialty Group makes up about 0.9% of Wolf Hill Capital Management LP’s portfolio, making the stock its 26th biggest holding. Wolf Hill Capital Management LP owned 2.50% of Octave Specialty Group worth $9,659,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in OSG. Federated Hermes Inc. purchased a new position in Octave Specialty Group during the second quarter valued at $37,000. Russell Investments Group Ltd. increased its stake in shares of Octave Specialty Group by 613.5% during the third quarter. Russell Investments Group Ltd. now owns 4,916 shares of the company’s stock worth $41,000 after purchasing an additional 4,227 shares in the last quarter. LM Asset IM Inc. acquired a new position in shares of Octave Specialty Group during the 2nd quarter worth about $43,000. CWM LLC raised its position in shares of Octave Specialty Group by 75.7% during the 3rd quarter. CWM LLC now owns 6,961 shares of the company’s stock worth $58,000 after purchasing an additional 2,999 shares during the last quarter. Finally, Cerity Partners LLC purchased a new position in Octave Specialty Group in the 2nd quarter valued at about $84,000. 80.92% of the stock is currently owned by institutional investors and hedge funds.

Octave Specialty Group Price Performance

OSG stock traded down $0.05 during mid-day trading on Friday, reaching $5.15. The company’s stock had a trading volume of 76,960 shares, compared to its average volume of 642,975. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $5.81 and its two-hundred day moving average is $7.20. Octave Specialty Group, Inc. has a fifty-two week low of $4.97 and a fifty-two week high of $10.38. The stock has a market cap of $231.54 million, a PE ratio of -0.87 and a beta of 0.84.

Octave Specialty Group (NYSE:OSG) last issued its earnings results on Monday, February 23rd. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.19. The business had revenue of $66.90 million for the quarter, compared to analysts’ expectations of $84.70 million. Octave Specialty Group had a negative return on equity of 2.87% and a negative net margin of 104.17%. Equities research analysts expect that Octave Specialty Group, Inc. will post 0.6 EPS for the current year.

Wall Street Analyst Weigh In

OSG has been the subject of several research reports. Wall Street Zen upgraded Octave Specialty Group from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Octave Specialty Group in a research note on Monday, December 29th. Finally, DOWLING & PARTN cut Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.00.

Insider Buying and Selling

In related news, CEO Claude Leblanc acquired 12,000 shares of the stock in a transaction on Friday, January 2nd. The shares were bought at an average price of $7.59 per share, with a total value of $91,080.00. Following the completion of the purchase, the chief executive officer owned 1,033,777 shares of the company’s stock, valued at approximately $7,846,367.43. This represents a 1.17% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.29% of the company’s stock.

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.