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Nov. 21, 2013, 9:48 AM
- 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
Ocean Shore Holding Co is engaged in directing, planning, and coordinating the business activities of the Bank. It operates as a community-oriented financial institution offering a range of financial services to consumers and businesses.
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