Overseas Shipholding Group (NYSE:OSG) Share Price Crosses Above Two Hundred Day Moving Average of $2.35

Overseas Shipholding Group, Inc. (NYSE:OSGGet Rating)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.35 and traded as high as $3.38. Overseas Shipholding Group shares last traded at $3.38, with a volume of 672,481 shares changing hands.

Analyst Ratings Changes

Separately, TheStreet raised shares of Overseas Shipholding Group from a “d” rating to a “c-” rating in a research report on Wednesday, August 24th.

Overseas Shipholding Group Stock Up 2.4 %

The company has a debt-to-equity ratio of 1.25, a current ratio of 0.75 and a quick ratio of 0.71. The firm’s 50-day moving average is $2.75 and its 200 day moving average is $2.35. The stock has a market cap of $297.99 million, a price-to-earnings ratio of -18.78 and a beta of 0.24.

Overseas Shipholding Group declared that its Board of Directors has approved a stock repurchase program on Monday, June 13th that authorizes the company to buyback 5,000,000 shares. This buyback authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Samuel H. Norton purchased 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 22nd. The stock was purchased at an average price of $2.07 per share, with a total value of $103,500.00. Following the completion of the transaction, the chief executive officer now owns 1,972,396 shares of the company’s stock, valued at approximately $4,082,859.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Overseas Shipholding Group news, CEO Samuel H. Norton acquired 50,000 shares of the firm’s stock in a transaction on Wednesday, June 22nd. The stock was bought at an average cost of $2.07 per share, for a total transaction of $103,500.00. Following the completion of the purchase, the chief executive officer now directly owns 1,972,396 shares in the company, valued at $4,082,859.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Samuel H. Norton acquired 12,500 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were acquired at an average price of $2.77 per share, with a total value of $34,625.00. Following the completion of the purchase, the chief executive officer now owns 2,119,509 shares of the company’s stock, valued at $5,871,039.93. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 70,000 shares of company stock valued at $159,575. Insiders own 6.27% of the company’s stock.

Institutional Investors Weigh In On Overseas Shipholding Group

Several institutional investors have recently bought and sold shares of the business. Fuller & Thaler Asset Management Inc. grew its stake in Overseas Shipholding Group by 0.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,190,525 shares of the transportation company’s stock worth $2,488,000 after buying an additional 5,950 shares during the period. Western Wealth Management LLC purchased a new stake in Overseas Shipholding Group during the first quarter worth approximately $26,000. State Street Corp grew its stake in Overseas Shipholding Group by 5.2% during the second quarter. State Street Corp now owns 245,918 shares of the transportation company’s stock worth $504,000 after buying an additional 12,200 shares during the period. Clear Harbor Asset Management LLC boosted its stake in shares of Overseas Shipholding Group by 74.5% in the first quarter. Clear Harbor Asset Management LLC now owns 35,146 shares of the transportation company’s stock valued at $73,000 after purchasing an additional 15,000 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Overseas Shipholding Group in the first quarter valued at $41,000. 40.09% of the stock is currently owned by hedge funds and other institutional investors.

About Overseas Shipholding Group

(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.

See Also

Receive News & Ratings for Overseas Shipholding Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Overseas Shipholding Group and related companies with MarketBeat.com's FREE daily email newsletter.