Overseas Shipholding Group (NYSE:OSG) Sets New 1-Year High at $8.50

Overseas Shipholding Group, Inc. (NYSE:OSG) reached a new 52-week high on Wednesday . The stock traded as high as $8.50 and last traded at $8.49, with a volume of 330388 shares changing hands. The stock had previously closed at $8.49.

Wall Street Analysts Forecast Growth

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

Overseas Shipholding Group Price Performance

The company has a market capitalization of $611.53 million, a PE ratio of 10.35 and a beta of 0.31. 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 stock has a fifty day simple moving average of $7.72 and a 200-day simple moving average of $6.55.

Overseas Shipholding Group (NYSE:OSG) last issued its quarterly 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 for the quarter. Overseas Shipholding Group had a return on equity of 18.38% and a net margin of 14.26%.

Insider Transactions at Overseas Shipholding Group

In related news, CEO Samuel H. Norton sold 50,000 shares of the company’s 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 sale, the chief executive officer now owns 2,457,479 shares of the company’s stock, valued at approximately $16,563,408.46. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Samuel H. Norton sold 50,000 shares of the company’s stock in a transaction 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 in the company, valued at approximately $16,563,408.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Samuel H. Norton sold 20,337 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 2,537,142 shares of the company’s stock, valued at $15,172,109.16. The disclosure for this sale can be found here. Corporate insiders own 9.29% of the company’s stock.

Hedge Funds Weigh In On Overseas Shipholding Group

Large investors have recently modified their holdings of the stock. GSA Capital Partners LLP lifted its holdings in Overseas Shipholding Group by 74.8% in the third quarter. GSA Capital Partners LLP now owns 333,974 shares of the transportation company’s stock worth $1,466,000 after acquiring an additional 142,959 shares during the last quarter. SG Americas Securities LLC grew its position in Overseas Shipholding Group by 24.5% in the fourth quarter. SG Americas Securities LLC now owns 34,607 shares of the transportation company’s stock worth $182,000 after buying an additional 6,802 shares during the last quarter. New York State Teachers Retirement System acquired a new position in Overseas Shipholding Group in the fourth quarter worth approximately $29,000. Strs Ohio grew its position in Overseas Shipholding Group by 14.2% in the fourth quarter. Strs Ohio now owns 93,300 shares of the transportation company’s stock worth $491,000 after buying an additional 11,600 shares during the last quarter. Finally, Acuitas Investments LLC boosted its stake in Overseas Shipholding Group by 2.1% in the 4th quarter. Acuitas Investments LLC now owns 490,674 shares of the transportation company’s stock worth $2,586,000 after purchasing an additional 10,063 shares during the period. Institutional investors own 80.92% of the company’s stock.

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.