Point72 Asia Singapore Pte. Ltd. Lowers Stock Position in International Seaways, Inc. (NYSE:INSW)

Point72 Asia Singapore Pte. Ltd. reduced its stake in International Seaways, Inc. (NYSE:INSW) by 59.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 889 shares of the transportation company’s stock after selling 1,313 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in International Seaways were worth $53,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of INSW. Magnetar Financial LLC purchased a new position in shares of International Seaways during the first quarter worth approximately $2,604,000. SG Americas Securities LLC raised its stake in shares of International Seaways by 102.1% during the second quarter. SG Americas Securities LLC now owns 21,082 shares of the transportation company’s stock worth $1,247,000 after acquiring an additional 10,652 shares in the last quarter. GeoSphere Capital Management LLC purchased a new position in shares of International Seaways during the fourth quarter worth approximately $2,501,000. BNP Paribas Financial Markets raised its stake in shares of 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 purchased a new position in shares of International Seaways during the first quarter worth approximately $1,735,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at International Seaways

In other news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $51.24, for a total value of $51,240.00. Following the completion of the transaction, the senior vice president now owns 52,803 shares of the company’s stock, valued at $2,705,625.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $51.24, for a total value of $51,240.00. Following the completion of the transaction, the senior vice president now owns 52,803 shares of the company’s stock, valued at approximately $2,705,625.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.17, for a total value of $245,850.00. Following the completion of the transaction, the director now directly owns 16,109 shares of the company’s stock, valued at approximately $792,079.53. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,000 shares of company stock valued at $653,400 in the last quarter. 1.90% of the stock is owned by insiders.

International Seaways Stock Performance

NYSE:INSW opened at $53.50 on Friday. The stock has a market cap of $2.64 billion, a P/E ratio of 5.00 and a beta of -0.08. The firm’s fifty day simple moving average is $50.97 and its 200 day simple moving average is $55.31. International Seaways, Inc. has a twelve month low of $40.99 and a twelve month high of $65.94. The company has a quick ratio of 3.87, a current ratio of 3.89 and a debt-to-equity ratio of 0.35.

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

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Wednesday, September 11th. International Seaways’s dividend payout ratio is presently 4.49%.

Wall Street Analysts Forecast Growth

INSW has been the topic of several research reports. Jefferies Financial Group reissued a “buy” rating and set a $66.00 price target on shares of International Seaways in a research note on Wednesday, August 7th. Stifel Nicolaus raised their target price on shares of International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Finally, StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, International Seaways currently has an average rating of “Buy” and a consensus 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.