International Seaways, Inc. (NYSE:INSW) Short Interest Update

International Seaways, Inc. (NYSE:INSW) saw a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 1,110,000 shares, an increase of 8.8% from the November 15th total of 1,020,000 shares. Based on an average trading volume of 636,800 shares, the short-interest ratio is currently 1.7 days.

International Seaways Trading Down 2.9 %

INSW opened at $33.95 on Tuesday. The company has a fifty day moving average price of $43.02 and a two-hundred day moving average price of $50.40. International Seaways has a 1-year low of $33.60 and a 1-year high of $65.94. The company has a market cap of $1.67 billion, a P/E ratio of 3.28 and a beta of -0.10. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32.

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

International Seaways Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 15.55%. The ex-dividend date is Friday, December 13th. International Seaways’s dividend payout ratio (DPR) is currently 4.64%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Stifel Nicolaus downgraded shares of International Seaways from a “buy” rating to a “hold” rating and lowered their price target for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Fearnley Fonds raised International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Finally, Jefferies Financial Group cut their price target on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.67.

Insider Transactions at International Seaways

In related news, SVP Derek G. Solon sold 1,200 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total transaction of $46,692.00. Following the completion of the sale, the senior vice president now directly owns 45,687 shares in the company, valued at $1,777,681.17. This represents a 2.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $49.22, for a total value of $98,440.00. Following the completion of the sale, the chief executive officer now directly owns 153,475 shares in the company, valued at $7,554,039.50. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,200 shares of company stock valued at $362,622. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC grew its holdings in International Seaways by 221.0% during the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after buying an additional 414,610 shares in the last quarter. Millennium Management LLC bought a new stake in shares of International Seaways in the 2nd quarter worth $21,875,000. American Century Companies Inc. lifted its position in shares of International Seaways by 25.7% during the second quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock valued at $73,034,000 after purchasing an additional 252,492 shares in the last quarter. Barclays PLC grew its position in International Seaways by 206.3% in the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock worth $13,374,000 after purchasing an additional 174,695 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of International Seaways during the 2nd quarter worth approximately $8,781,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

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.