PEAK6 Investments LLC Acquires Shares of 13,221 International Seaways, Inc. (NYSE:INSW)

PEAK6 Investments LLC bought a new position in shares of International Seaways, Inc. (NYSE:INSW) during the third quarter, HoldingsChannel.com reports. The firm bought 13,221 shares of the transportation company’s stock, valued at approximately $682,000.

Several other hedge funds also recently made changes to their positions in INSW. EverSource Wealth Advisors LLC acquired a new position in International Seaways in the first quarter valued at about $27,000. EdgeRock Capital LLC bought a new position in International Seaways in the 2nd quarter valued at about $28,000. Blue Trust Inc. acquired a new position in shares of International Seaways in the 3rd quarter valued at approximately $41,000. KBC Group NV lifted its holdings in shares of International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after acquiring an additional 428 shares during the period. Finally, Quarry LP boosted its position in shares of International Seaways by 408.0% during the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after acquiring an additional 1,167 shares in the last quarter. 67.29% of the stock is owned by institutional investors.

Insider Activity at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $50.30, for a total value of $100,600.00. Following the completion of the transaction, the chief executive officer now directly owns 155,475 shares in the company, valued at approximately $7,820,392.50. This represents a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction on Friday, November 29th. The stock was sold at an average price of $39.54, for a total transaction of $39,540.00. Following the transaction, the senior vice president now owns 50,803 shares in the company, valued at approximately $2,008,750.62. This trade represents a 1.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,200 shares of company stock worth $758,822 in the last quarter. 1.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on INSW. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Stifel Nicolaus lowered International Seaways from a “buy” rating to a “hold” rating and decreased their price target for the company from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group dropped their price objective on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Finally, StockNews.com cut International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.67.

International Seaways Stock Performance

NYSE INSW opened at $39.74 on Wednesday. The firm’s fifty day moving average price is $45.90 and its two-hundred day moving average price is $52.17. The stock has a market cap of $1.95 billion, a PE ratio of 3.84 and a beta of -0.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. International Seaways, Inc. has a fifty-two week low of $38.12 and a fifty-two week high of $65.94.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The company had revenue of $225.20 million for the quarter, compared to the consensus estimate of $208.75 million. During the same quarter last year, the business posted $1.99 EPS. International Seaways’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, equities analysts expect that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $1.32 per share. This is a boost from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 annualized dividend and a dividend yield of 13.29%. The ex-dividend date is Friday, December 13th. International Seaways’s payout ratio is 4.64%.

About International Seaways

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.