Point72 DIFC Ltd Takes $157,000 Position in International Seaways, Inc. (NYSE:INSW)

Point72 DIFC Ltd purchased a new position in International Seaways, Inc. (NYSE:INSW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,656 shares of the transportation company’s stock, valued at approximately $157,000.

Several other hedge funds have also made changes to their positions in the stock. Bailard Inc. increased its position in International Seaways by 2.4% in the second quarter. Bailard Inc. now owns 12,714 shares of the transportation company’s stock worth $752,000 after buying an additional 300 shares during the period. EverSource Wealth Advisors LLC increased its stake in International Seaways by 62.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock valued at $44,000 after buying an additional 305 shares during the period. Consolidated Portfolio Review Corp raised its position in shares of International Seaways by 3.9% during the 2nd quarter. Consolidated Portfolio Review Corp now owns 8,328 shares of the transportation company’s stock worth $492,000 after buying an additional 312 shares in the last quarter. CWM LLC lifted its holdings in shares of International Seaways by 47.9% in the second quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock valued at $87,000 after buying an additional 476 shares during the period. Finally, EdgeRock Capital LLC bought a new position in International Seaways during the second quarter valued at about $28,000. Institutional investors own 67.29% of the company’s stock.

International Seaways Stock Down 0.3 %

International Seaways stock opened at $51.40 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.89 and a quick ratio of 3.87. International Seaways, Inc. has a fifty-two week low of $40.68 and a fifty-two week high of $65.94. The firm has a fifty day moving average price of $51.22 and a two-hundred day moving average price of $55.31. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 4.80 and a beta of -0.07.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.13). The business had revenue of $257.40 million for the quarter, compared to analyst estimates of $256.13 million. International Seaways had a return on equity of 26.55% and a net margin of 50.70%. International Seaways’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.12 EPS. As a group, analysts forecast that International Seaways, Inc. will post 9.51 earnings per share for the current year.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $0.48 annualized dividend and a yield of 0.93%. International Seaways’s dividend payout ratio is 4.49%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on INSW. 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. StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Stifel Nicolaus lifted their target price on shares of International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $68.00.

Insider Activity

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $49.40, for a total value of $98,800.00. Following the sale, the chief executive officer now owns 157,475 shares of the company’s stock, valued at approximately $7,779,265. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Monday, August 12th. The stock was sold at an average price of $49.40, for a total transaction of $98,800.00. Following the completion of the transaction, the chief executive officer now directly owns 157,475 shares of the company’s stock, valued at $7,779,265. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $51.24, for a total transaction of $51,240.00. Following the completion of the sale, the senior vice president now directly owns 52,803 shares in the company, valued at approximately $2,705,625.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,000 shares of company stock valued at $653,400. Insiders own 1.90% of the company’s stock.

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.