Overseas Shipholding Group (NYSE:OSG) Reaches New 52-Week High at $8.48

Overseas Shipholding Group, Inc. (NYSE:OSG) shares reached a new 52-week high during trading on Monday . The company traded as high as $8.48 and last traded at $8.47, with a volume of 77767 shares changing hands. The stock had previously closed at $8.46.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Overseas Shipholding Group in a research report on Sunday. They issued a “strong-buy” rating for the company.

Overseas Shipholding Group Trading Up 0.1 %

The stock has a market capitalization of $610.09 million, a price-to-earnings ratio of 10.33 and a beta of 0.38. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.63 and a current ratio of 0.67. The business has a 50-day moving average of $7.38 and a 200-day moving average of $6.37.

Overseas Shipholding Group (NYSE:OSG) last announced its earnings results on Friday, May 10th. The transportation company reported $0.19 earnings per share (EPS) for the quarter. The firm had revenue of $117.50 million during the quarter. Overseas Shipholding Group had a return on equity of 18.38% and a net margin of 14.26%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Overseas Shipholding Group

Large investors have recently modified their holdings of the business. Acuitas Investments LLC raised its stake in shares of Overseas Shipholding Group by 2.1% during the 4th quarter. Acuitas Investments LLC now owns 490,674 shares of the transportation company’s stock worth $2,586,000 after buying an additional 10,063 shares in the last quarter. LSV Asset Management purchased a new position in Overseas Shipholding Group in the 4th quarter valued at approximately $768,000. Brightline Capital Management LLC purchased a new position in Overseas Shipholding Group in the 4th quarter valued at approximately $2,951,000. New York State Teachers Retirement System purchased a new position in Overseas Shipholding Group in the 4th quarter valued at approximately $29,000. Finally, Semanteon Capital Management LP purchased a new position in Overseas Shipholding Group in the 4th quarter valued at approximately $234,000. 80.92% of the stock is owned by hedge funds and other institutional investors.

About Overseas Shipholding Group

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.