International Seaways, Inc. (NYSE:INSW) Short Interest Up 9.4% in September

International Seaways, Inc. (NYSE:INSW) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 862,000 shares, an increase of 9.4% from the August 31st total of 788,100 shares. Based on an average daily trading volume, of 609,900 shares, the short-interest ratio is presently 1.4 days.

International Seaways Trading Up 0.3 %

INSW stock traded up $0.14 during midday trading on Tuesday, hitting $51.70. 117,049 shares of the company’s stock were exchanged, compared to its average volume of 569,056. The stock’s fifty day moving average price is $51.22 and its 200-day moving average price is $55.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.87 and a current ratio of 3.89. The company has a market cap of $2.55 billion, a PE ratio of 4.82 and a beta of -0.07. International Seaways has a one year low of $40.68 and a one year high of $65.94.

International Seaways (NYSE:INSW) last posted its earnings results 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 the consensus estimate of $256.13 million. International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The business’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.12 earnings per share. Research analysts predict that International Seaways will post 9.51 earnings per share for the current fiscal year.

International Seaways Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were issued a $0.12 dividend. The ex-dividend date was Wednesday, September 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.93%. International Seaways’s dividend payout ratio (DPR) is 4.49%.

Insider Transactions at International Seaways

In related news, Director Alexandra Kate Blankenship sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total transaction of $245,850.00. Following the completion of the sale, the director now directly owns 16,109 shares of the company’s stock, valued at approximately $792,079.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction on Friday, August 30th. The stock was sold at an average price of $51.19, for a total value of $51,190.00. Following the completion of the sale, the senior vice president now directly owns 53,803 shares of the company’s stock, valued at approximately $2,754,175.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexandra Kate Blankenship sold 5,000 shares of International Seaways stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.17, for a total value of $245,850.00. Following the completion of the sale, the director now directly owns 16,109 shares of the company’s stock, valued at $792,079.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,000 shares of company stock valued at $602,160. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of INSW. Magnetar Financial LLC bought a new position in shares of International Seaways during the 1st quarter worth approximately $2,604,000. SG Americas Securities LLC grew its stake in shares of International Seaways by 102.1% in the second quarter. SG Americas Securities LLC now owns 21,082 shares of the transportation company’s stock valued at $1,247,000 after buying an additional 10,652 shares in the last quarter. GeoSphere Capital Management LLC acquired a new position in International Seaways during the fourth quarter worth $2,501,000. BNP Paribas Financial Markets raised its position in International Seaways by 101.5% during the first quarter. BNP Paribas Financial Markets now owns 34,543 shares of the transportation company’s stock worth $1,838,000 after acquiring an additional 17,399 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC acquired a new position in shares of International Seaways during the 1st quarter worth about $1,735,000. 67.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Jefferies Financial Group restated a “buy” rating and issued a $66.00 price target on shares of International Seaways in a research report on Wednesday, August 7th. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Stifel Nicolaus raised their price target on International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, International Seaways presently has a consensus rating of “Buy” and an average price target of $68.00.

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.