- 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