Geode Capital Management LLC Reduces Stake in Overseas Shipholding Group, Inc. (OSG)

Geode Capital Management LLC lowered its position in Overseas Shipholding Group, Inc. (NYSE:OSG) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 612,847 shares of the transportation company’s stock after selling 8,840 shares during the period. Geode Capital Management LLC owned approximately 0.87% of Overseas Shipholding Group worth $2,365,000 as of its most recent SEC filing.

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Several other institutional investors have also recently modified their holdings of the company. Alliancebernstein L.P. raised its position in shares of Overseas Shipholding Group by 0.4% in the first quarter. Alliancebernstein L.P. now owns 26,400 shares of the transportation company’s stock worth $102,000 after buying an additional 100 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of Overseas Shipholding Group by 16.4% in the first quarter. Nationwide Fund Advisors now owns 28,018 shares of the transportation company’s stock worth $108,000 after buying an additional 3,938 shares during the last quarter. California Public Employees Retirement System purchased a new position in shares of Overseas Shipholding Group during the first quarter worth $156,000. Renaissance Technologies LLC raised its position in shares of Overseas Shipholding Group by 45.1% in the fourth quarter. Renaissance Technologies LLC now owns 42,500 shares of the transportation company’s stock worth $163,000 after buying an additional 13,200 shares during the last quarter. Finally, Spark Investment Management LLC purchased a new position in shares of Overseas Shipholding Group during the first quarter worth $231,000. 58.77% of the stock is currently owned by institutional investors.

Shares of Overseas Shipholding Group, Inc. (NYSE OSG) traded up 1.98% during trading on Friday, hitting $2.06. The stock had a trading volume of 597,931 shares. The firm has a 50 day moving average price of $2.59 and a 200-day moving average price of $3.37. Overseas Shipholding Group, Inc. has a 52 week low of $1.96 and a 52 week high of $11.57. The stock’s market capitalization is $154.57 million.

Overseas Shipholding Group (NYSE:OSG) last announced its earnings results on Wednesday, August 9th. The transportation company reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $96.23 million for the quarter. Overseas Shipholding Group had a positive return on equity of 10.95% and a negative net margin of 71.11%. On average, equities research analysts forecast that Overseas Shipholding Group, Inc. will post $0.87 EPS for the current fiscal year.

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In other Overseas Shipholding Group news, major shareholder Paulson & Co. Inc. sold 116,881 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $2.25, for a total transaction of $262,982.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Samuel H. Norton bought 20,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were bought at an average cost of $2.00 per share, for a total transaction of $40,000.00. Following the transaction, the chief executive officer now directly owns 125,531 shares in the company, valued at approximately $251,062. The disclosure for this purchase can be found here. Insiders have acquired a total of 55,600 shares of company stock worth $111,912 in the last ninety days.

About Overseas Shipholding Group

Overseas Shipholding Group, Inc (OSG) is a tanker company engaged primarily in the ocean transportation of crude oil and petroleum products. The Company’s vessel operations are organized into strategic business units and focused on market segments: crude oil, refined petroleum products and the United States Flag.

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