Overseas Shipholding Group, Inc. (NYSE:OSG) Director Gary Eugene Taylor Sells 20,000 Shares

Overseas Shipholding Group, Inc. (NYSE:OSGGet Rating) Director Gary Eugene Taylor sold 20,000 shares of the firm’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $2.06, for a total transaction of $41,200.00. Following the sale, the director now directly owns 182,841 shares in the company, valued at $376,652.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of OSG stock traded up $0.13 during mid-day trading on Tuesday, reaching $2.17. 456 shares of the company were exchanged, compared to its average volume of 195,526. Overseas Shipholding Group, Inc. has a fifty-two week low of $1.64 and a fifty-two week high of $3.04. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.29. The business’s 50 day simple moving average is $2.16 and its 200 day simple moving average is $2.01.

Overseas Shipholding Group (NYSE:OSGGet Rating) last released its quarterly earnings results on Monday, May 9th. The transportation company reported ($0.01) earnings per share for the quarter. The company had revenue of $104.00 million for the quarter. Overseas Shipholding Group had a negative return on equity of 7.19% and a negative net margin of 8.09%.

Overseas Shipholding Group announced that its board has initiated a share repurchase plan on Monday, June 13th that authorizes the company to repurchase 5,000,000 outstanding shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Separately, StockNews.com upgraded shares of Overseas Shipholding Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 12th.

A number of hedge funds have recently bought and sold shares of the business. Royal Bank of Canada raised its position in Overseas Shipholding Group by 107.7% in the second quarter. Royal Bank of Canada now owns 14,478 shares of the transportation company’s stock worth $30,000 after acquiring an additional 7,508 shares in the last quarter. Geode Capital Management LLC raised its position in Overseas Shipholding Group by 14.8% in the third quarter. Geode Capital Management LLC now owns 694,435 shares of the transportation company’s stock worth $1,444,000 after acquiring an additional 89,484 shares in the last quarter. Credit Suisse AG purchased a new position in Overseas Shipholding Group in the 3rd quarter worth about $31,000. Man Group plc purchased a new position in Overseas Shipholding Group in the 3rd quarter worth about $2,668,000. Finally, Verition Fund Management LLC purchased a new position in Overseas Shipholding Group in the 3rd quarter worth about $495,000. Institutional investors own 55.33% of the company’s stock.

Overseas Shipholding Group Company Profile (Get Rating)

Overseas Shipholding Group, Inc, together with its subsidiaries, owns and operates a fleet of oceangoing vessels. Its vessels are engaged in the transportation of crude oil and petroleum products in the United States flag trade. As of December 31, 2021, the company owned or operated a fleet of 24 vessels totaling an aggregate of approximately 1.7 million deadweight tons.

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