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

StockNews.com started coverage on shares of Overseas Shipholding Group (NYSE:OSG – Get Rating) in a research report released on Thursday. The brokerage issued a strong-buy rating on the transportation company’s stock.

Overseas Shipholding Group Price Performance

NYSE:OSG opened at $3.44 on Thursday. The company has a 50-day moving average of $3.62 and a 200-day moving average of $3.20. The company has a market capitalization of $270.52 million, a price-to-earnings ratio of 11.86 and a beta of 0.31. Overseas Shipholding Group has a 52 week low of $1.90 and a 52 week high of $3.94. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.73 and a current ratio of 0.74.

Insider Buying and Selling

In related news, Chairman Douglas D. Wheat sold 143,000 shares of the stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $3.42, for a total transaction of $489,060.00. Following the completion of the sale, the chairman now owns 210,633 shares in the company, valued at approximately $720,364.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Julie Silcock sold 66,584 shares of the stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $3.48, for a total transaction of $231,712.32. Following the completion of the sale, the director now owns 93,512 shares in the company, valued at approximately $325,421.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Douglas D. Wheat sold 143,000 shares of the stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $3.42, for a total transaction of $489,060.00. Following the sale, the chairman now owns 210,633 shares of the company’s stock, valued at approximately $720,364.86. The disclosure for this sale can be found here. 6.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Overseas Shipholding Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. increased its position in Overseas Shipholding Group by 0.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,190,525 shares of the transportation company’s stock valued at $2,488,000 after acquiring an additional 5,950 shares in the last quarter. State Street Corp increased its position in Overseas Shipholding Group by 5.2% in the 2nd quarter. State Street Corp now owns 245,918 shares of the transportation company’s stock valued at $504,000 after acquiring an additional 12,200 shares in the last quarter. Shay Capital LLC acquired a new stake in Overseas Shipholding Group in the 4th quarter valued at about $38,000. Renaissance Technologies LLC grew its position in shares of Overseas Shipholding Group by 2.9% during the 4th quarter. Renaissance Technologies LLC now owns 465,479 shares of the transportation company’s stock worth $1,345,000 after buying an additional 13,200 shares during the period. Finally, Segantii Capital Management Ltd acquired a new stake in shares of Overseas Shipholding Group during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 51.62% of the company’s stock.

Overseas Shipholding Group Company Profile

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Overseas Shipholding Group, Inc engages in the provision of energy transportation services for crude oil and petroleum products in the U.S. Flag trade. It operates Articulated Tug Barges (ATB), lightering ATBs, shuttle tankers, Medium Range (MR) tankers, and non-Jones Act MR tankers that participate in the maritime security program.