Overseas Shipholding Group, Inc. $OSG Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd cut its stake in shares of Overseas Shipholding Group, Inc. (NYSE:OSG) by 57.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 150,489 shares of the transportation company’s stock after selling 200,212 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Overseas Shipholding Group were worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC grew its stake in Overseas Shipholding Group by 65,933.3% during the 2nd quarter. CWM LLC now owns 3,962 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 3,956 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Overseas Shipholding Group during the second quarter worth about $37,000. LM Asset IM Inc. purchased a new stake in Overseas Shipholding Group in the second quarter valued at approximately $43,000. Cerity Partners LLC acquired a new position in Overseas Shipholding Group in the 2nd quarter worth approximately $84,000. Finally, WINTON GROUP Ltd purchased a new position in Overseas Shipholding Group during the 2nd quarter worth approximately $108,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Insider Transactions at Overseas Shipholding Group

In other Overseas Shipholding Group news, CEO Claude Leblanc acquired 12,000 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were bought at an average cost of $7.59 per share, with a total value of $91,080.00. Following the completion of the acquisition, the chief executive officer owned 1,033,777 shares in the company, valued at approximately $7,846,367.43. This trade represents a 1.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 9.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. DOWLING & PARTN downgraded shares of Overseas Shipholding Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Overseas Shipholding Group in a report on Monday, December 29th. Finally, Truist Financial lifted their price objective on Overseas Shipholding Group from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Overseas Shipholding Group currently has a consensus rating of “Hold” and an average target price of $15.00.

Overseas Shipholding Group Stock Performance

OSG stock opened at $5.69 on Friday. Overseas Shipholding Group, Inc. has a one year low of $5.55 and a one year high of $12.11. The firm’s fifty day moving average is $6.91 and its 200 day moving average is $7.96. The firm has a market cap of $249.28 million, a PE ratio of -0.37 and a beta of 0.87.

Overseas Shipholding Group (NYSE:OSG) last posted its earnings results on Monday, November 10th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.02. Overseas Shipholding Group had a negative net margin of 290.22% and a negative return on equity of 3.17%. The business had revenue of $66.61 million for the quarter, compared to analyst estimates of $56.77 million.

Overseas Shipholding Group Company Profile

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. It serves independent oil traders, refinery operators, and the United States and international government entities.