Connor Clark & Lunn Investment Management Ltd. Boosts Position in Overseas Shipholding Group Inc. (OSG)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Overseas Shipholding Group Inc. (NYSE:OSG) by 8.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,139,553 shares of the transportation company’s stock after acquiring an additional 158,549 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 2.53% of Overseas Shipholding Group worth $6,740,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Rhumbline Advisers grew its stake in Overseas Shipholding Group by 35.8% during the 2nd quarter. Rhumbline Advisers now owns 57,179 shares of the transportation company’s stock worth $222,000 after buying an additional 15,081 shares during the last quarter. First Trust Advisors LP bought a new position in Overseas Shipholding Group during the 3rd quarter worth $307,000. Bailard Inc. bought a new position in Overseas Shipholding Group during the 2nd quarter worth $515,000. Virtu Financial LLC grew its stake in Overseas Shipholding Group by 225.7% during the 3rd quarter. Virtu Financial LLC now owns 76,378 shares of the transportation company’s stock worth $536,000 after buying an additional 52,927 shares during the last quarter. Finally, Mackay Shields LLC grew its stake in Overseas Shipholding Group by 45.5% during the 2nd quarter. Mackay Shields LLC now owns 138,800 shares of the transportation company’s stock worth $539,000 after buying an additional 43,400 shares during the last quarter. 58.81% of the stock is currently owned by institutional investors and hedge funds.

In related news, Chairman Douglas D. Wheat acquired 50,000 shares of the stock in a transaction that occurred on Wednesday, November 14th. The stock was purchased at an average cost of $2.00 per share, for a total transaction of $100,000.00. Following the purchase, the chairman now directly owns 151,085 shares in the company, valued at $302,170. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Samuel H. Norton acquired 15,000 shares of the stock in a transaction that occurred on Thursday, November 15th. The shares were bought at an average price of $2.18 per share, with a total value of $32,700.00. Following the completion of the purchase, the insider now owns 525,841 shares in the company, valued at $1,146,333.38. The disclosure for this purchase can be found here. 1.53% of the stock is owned by corporate insiders.

Shares of OSG opened at $2.14 on Friday. The firm has a market cap of $193.71 million, a P/E ratio of 2.83 and a beta of -0.17. Overseas Shipholding Group Inc. has a 12 month low of $1.67 and a 12 month high of $4.16.

Overseas Shipholding Group (NYSE:OSG) last issued its quarterly earnings data on Friday, November 9th. The transportation company reported $0.13 EPS for the quarter. The firm had revenue of $80.54 million during the quarter. Overseas Shipholding Group had a return on equity of 22.51% and a net margin of 19.56%.

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Overseas Shipholding Group Profile

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.

Further Reading: Analyzing a company’s cash flow statement

Institutional Ownership by Quarter for Overseas Shipholding Group (NYSE:OSG)

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