StockNews.com Initiates Coverage on Overseas Shipholding Group (NYSE:OSG)

StockNews.com began coverage on shares of Overseas Shipholding Group (NYSE:OSGGet Free Report) in a report released on Tuesday. The firm set a “strong-buy” rating on the transportation company’s stock.

Overseas Shipholding Group Price Performance

OSG stock opened at $8.49 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93. The company’s 50 day moving average is $8.01 and its 200 day moving average is $6.68. The stock has a market cap of $611.53 million, a price-to-earnings ratio of 10.35 and a beta of 0.31. Overseas Shipholding Group has a 1-year low of $3.95 and a 1-year high of $8.50.

Overseas Shipholding Group (NYSE:OSGGet Free Report) last posted its quarterly earnings data on Friday, May 10th. The transportation company reported $0.19 earnings per share for the quarter. The company had revenue of $117.50 million for the quarter. Overseas Shipholding Group had a net margin of 14.26% and a return on equity of 18.38%.

Insider Buying and Selling at Overseas Shipholding Group

In other Overseas Shipholding Group news, CEO Samuel H. Norton sold 20,337 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $5.98, for a total transaction of $121,615.26. Following the transaction, the chief executive officer now directly owns 2,537,142 shares in the company, valued at $15,172,109.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Samuel H. Norton sold 50,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $6.74, for a total transaction of $337,000.00. Following the completion of the sale, the chief executive officer now owns 2,457,479 shares of the company’s stock, valued at $16,563,408.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Samuel H. Norton sold 20,337 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $5.98, for a total value of $121,615.26. Following the sale, the chief executive officer now directly owns 2,537,142 shares of the company’s stock, valued at approximately $15,172,109.16. The disclosure for this sale can be found here. Company insiders own 9.29% of the company’s stock.

Institutional Trading of Overseas Shipholding Group

A number of institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its stake in shares of Overseas Shipholding Group by 255.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,915 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 4,969 shares during the period. New York State Teachers Retirement System purchased a new stake in shares of Overseas Shipholding Group during the fourth quarter valued at approximately $29,000. SG Americas Securities LLC boosted its stake in shares of Overseas Shipholding Group by 24.5% during the fourth quarter. SG Americas Securities LLC now owns 34,607 shares of the transportation company’s stock valued at $182,000 after purchasing an additional 6,802 shares during the period. Acuitas Investments LLC boosted its stake in shares of Overseas Shipholding Group by 2.1% during the fourth quarter. Acuitas Investments LLC now owns 490,674 shares of the transportation company’s stock valued at $2,586,000 after purchasing an additional 10,063 shares during the period. Finally, AJOVista LLC purchased a new stake in Overseas Shipholding Group in the fourth quarter worth $60,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

About Overseas Shipholding Group

(Get Free Report)

Overseas Shipholding Group, Inc, together with its subsidiaries, owns and operates a fleet of oceangoing vessels in the United States. Its vessels are engaged in the transportation of crude oil, petroleum, and renewable transportation fuels in the United States flag trade. As of December 31, 2023, the company owned or operated a fleet of 21 vessels totaling an aggregate of approximately 1.5 million deadweight tons.

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