Professional
Added to YB: 2025-01-27
Pitch date: 2024-12-31
AMBC [bullish]
Octave Specialty Group, Inc.
-63.78%
current return
Author Info
No bio for this author
Company Info
Octave Specialty Group, Inc., an insurance holding company, primarily engages in the specialty property and casualty insurance business in the United States and the United Kingdom.
Market Cap
$211.3M
Pitch Price
$12.70
Price Target
N/A
Dividend
N/A
EV/EBITDA
38.03
P/E
-2.38
EV/Sales
2.05
Sector
Insurance
Category
special_situation
Third Avenue Small Cap Value Fund Portfolio Holding: Ambac Financial Group, Inc.
AMBC: Selling legacy biz to Oaktree for $420M cash, removing debt. Post-close: high cash, $1.3B tax loss carryforward. Focus on asset-light, high-margin E&S insurance MGAs. Potential for growth, margin improvement, and NAV expansion via acquisitions. Revaluation opportunity as perception shifts from legacy guarantor to profitable insurer.
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