Ocean Shore sets buyback as activist investor stirs pot

|About: Ocean Shore Holding Co. (OSHC)|By:, SA News Editor

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)

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