Seeking Alpha

Ocean Shore sets buyback as activist investor stirs pot

  • Rangeley Capital - led by SA contributor Chris DeMuth - boosts its stake in Ocean Shore Holding (OSHC +2.1%) to 7.7% from 7% and continues its call for a sale of the company. "Even using conservative price estimates, a strategic buyer would likely pay a substantial premium to acquire the company today," says DeMuth in a letter the board.
  • Shortly after the news, the board announces approval of a 210K share buyback program, roughly 3% of the float. (PR)
  • Previous: SA's Profit Fan and DeMuth on the opportunity in Ocean Shore
Comments (1)
  • Chris DeMuth Jr.
    , contributor
    Comments (4146) | Send Message
     
    If you are interested in this opportunity, here is a new forum: http://seekingalpha.co...
    21 Nov 2013, 09:59 AM Reply Like
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