International Seaways, Inc. (NYSE:INSW) Short Interest Up 14.5% in July

International Seaways, Inc. (NYSE:INSW) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 976,900 shares, an increase of 14.5% from the July 15th total of 853,300 shares. Based on an average daily volume of 602,000 shares, the days-to-cover ratio is presently 1.6 days.

Insiders Place Their Bets

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $49.40, for a total transaction of $98,800.00. Following the sale, the chief executive officer now owns 157,475 shares in the company, valued at $7,779,265. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $49.40, for a total transaction of $98,800.00. Following the transaction, the chief executive officer now owns 157,475 shares in the company, valued at approximately $7,779,265. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO James D. Small III sold 7,500 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $55.20, for a total transaction of $414,000.00. Following the transaction, the chief accounting officer now directly owns 55,138 shares in the company, valued at $3,043,617.60. The disclosure for this sale can be found here. Insiders sold a total of 55,032 shares of company stock worth $3,333,086 in the last quarter. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On International Seaways

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James & Associates boosted its stake in International Seaways by 92.0% during the fourth quarter. Raymond James & Associates now owns 11,671 shares of the transportation company’s stock worth $531,000 after buying an additional 5,593 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of International Seaways during the fourth quarter worth approximately $4,137,000. Strs Ohio raised its holdings in shares of International Seaways by 136.6% in the 4th quarter. Strs Ohio now owns 19,400 shares of the transportation company’s stock valued at $882,000 after purchasing an additional 11,200 shares in the last quarter. Peterson Wealth Services acquired a new stake in International Seaways in the fourth quarter valued at $203,000. Finally, Federated Hermes Inc. boosted its holdings in International Seaways by 1.8% in the fourth quarter. Federated Hermes Inc. now owns 70,656 shares of the transportation company’s stock valued at $3,213,000 after purchasing an additional 1,247 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on INSW. Deutsche Bank Aktiengesellschaft lifted their price objective on International Seaways from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Jefferies Financial Group reissued a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a research note on Wednesday, August 7th. Stifel Nicolaus boosted their price target on International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, International Seaways presently has a consensus rating of “Moderate Buy” and an average target price of $64.75.

International Seaways Stock Down 0.2 %

INSW traded down $0.11 on Friday, hitting $50.69. The company had a trading volume of 440,860 shares, compared to its average volume of 566,131. The stock has a fifty day moving average price of $55.95 and a 200-day moving average price of $55.67. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.72 and a current ratio of 2.73. International Seaways has a 12-month low of $40.11 and a 12-month high of $65.94. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 4.74 and a beta of -0.06.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). The company had revenue of $257.40 million during the quarter, compared to analysts’ expectations of $256.13 million. International Seaways had a return on equity of 29.74% and a net margin of 49.88%. The company’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.12 EPS. Analysts predict that International Seaways will post 10.12 EPS for the current fiscal year.

International Seaways Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Wednesday, September 11th. International Seaways’s dividend payout ratio (DPR) is 4.49%.

International Seaways Company Profile

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.