Shares of Overseas Shipholding Group (NYSE:OSG) dropped 5.6% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $3.65 and last traded at $3.69. Approximately 832,072 shares traded hands during mid-day trading, an increase of 19% from the average daily volume of 697,289 shares. The stock had previously closed at $3.91.

Specifically, major shareholder Bluemountain Capital Managemen sold 750,000 shares of the company’s stock in a transaction dated Friday, April 20th. The shares were sold at an average price of $4.02, for a total value of $3,015,000.00. Following the completion of the sale, the insider now directly owns 8,392,048 shares of the company’s stock, valued at $33,736,032.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.77% of the stock is currently owned by corporate insiders.

The firm has a market capitalization of $297.17, a PE ratio of 6.19 and a beta of 0.07. The company has a debt-to-equity ratio of 1.34, a quick ratio of 3.10 and a current ratio of 3.32.

Overseas Shipholding Group (NYSE:OSG) last posted its quarterly earnings results on Friday, March 9th. The transportation company reported $0.61 earnings per share (EPS) for the quarter. The firm had revenue of $92.82 million during the quarter. Overseas Shipholding Group had a net margin of 14.34% and a return on equity of 20.19%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan purchased a new position in Overseas Shipholding Group during the fourth quarter worth about $743,000. Millennium Management LLC raised its holdings in Overseas Shipholding Group by 26.7% during the fourth quarter. Millennium Management LLC now owns 169,281 shares of the transportation company’s stock worth $464,000 after purchasing an additional 35,623 shares in the last quarter. Two Sigma Investments LP raised its holdings in Overseas Shipholding Group by 193.2% during the fourth quarter. Two Sigma Investments LP now owns 303,765 shares of the transportation company’s stock worth $832,000 after purchasing an additional 200,146 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Overseas Shipholding Group by 29.5% during the fourth quarter. Two Sigma Advisers LP now owns 275,954 shares of the transportation company’s stock worth $756,000 after purchasing an additional 62,838 shares in the last quarter. Finally, Stone Ridge Asset Management LLC purchased a new position in Overseas Shipholding Group during the fourth quarter worth about $253,000. 65.19% of the stock is owned by hedge funds and other institutional investors.

About Overseas Shipholding Group

Overseas Shipholding Group, Inc owns and operates a fleet of oceangoing vessels engaged in the transportation of crude oil and petroleum products in the United States. At December 31, 2017, the company owned or operated a fleet of 23 vessels totaling an aggregate of approximately 1 million deadweight tons.

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