Octave Specialty Group, Inc. $OSG Stake Increased by Prescott Group Capital Management L.L.C.

Prescott Group Capital Management L.L.C. lifted its stake in shares of Octave Specialty Group, Inc. (NYSE:OSG) by 17.1% in the third quarter, HoldingsChannel.com reports. The fund owned 1,930,145 shares of the company’s stock after acquiring an additional 282,352 shares during the quarter. Prescott Group Capital Management L.L.C.’s holdings in Octave Specialty Group were worth $7,991,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RIHO Partners LLC bought a new position in Octave Specialty Group in the first quarter valued at $2,542,000. Renaissance Technologies LLC raised its position in Octave Specialty Group by 805.2% during the first 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 in the last quarter. Sei Investments Co. raised its position in Octave Specialty Group by 133.9% during the first quarter. Sei Investments Co. now owns 156,078 shares of the company’s stock valued at $726,000 after purchasing an additional 89,360 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Octave Specialty Group during the second quarter worth about $842,000. Finally, Lone Peak Global Investors LLC bought a new stake in Octave Specialty Group during the second quarter worth about $672,000. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

Octave Specialty Group Stock Performance

Octave Specialty Group stock opened at $5.03 on Wednesday. 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 company has a market capitalization of $226.38 million, a PE ratio of 52.00 and a beta of 0.76. The firm has a fifty day simple moving average of $4.64 and a two-hundred day simple moving average of $5.22. Octave Specialty Group, Inc. has a twelve month low of $3.88 and a twelve month high of $10.38.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on OSG. Zacks Research cut Octave Specialty Group from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Weiss Ratings raised Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, October 21st. Finally, Keefe, Bruyette & Woods started coverage on Octave Specialty Group in a research report on Friday, August 28th. They issued an “outperform” rating and a $8.00 target price for the company. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Octave Specialty Group currently has a consensus rating of “Hold” and an average target price of $11.50.

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.