International Seaways, Inc. (NYSE:INSW) Short Interest Down 14.4% in October

International Seaways, Inc. (NYSE:INSW) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 1,010,000 shares, a drop of 14.4% from the September 30th total of 1,180,000 shares. Based on an average daily trading volume, of 610,300 shares, the days-to-cover ratio is currently 1.7 days.

International Seaways Stock Up 0.5 %

Shares of INSW stock traded up $0.21 on Thursday, hitting $43.54. The stock had a trading volume of 647,190 shares, compared to its average volume of 576,111. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.89 and a quick ratio of 3.87. The business has a 50 day moving average of $50.02 and a 200 day moving average of $54.75. International Seaways has a 12-month low of $42.08 and a 12-month high of $65.94. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 4.07 and a beta of -0.08.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.13). International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The firm had revenue of $257.40 million during the quarter, compared to analysts’ expectations of $256.13 million. During the same quarter last year, the business posted $3.12 EPS. The company’s quarterly revenue was down 11.9% on a year-over-year basis. As a group, analysts expect that International Seaways will post 9.31 EPS for the current year.

International Seaways Cuts Dividend

The firm also recently disclosed 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 1.10%. International Seaways’s dividend payout ratio is currently 4.49%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on INSW shares. StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Stifel Nicolaus lowered International Seaways from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Finally, 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. Two investment 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 company’s stock. According to MarketBeat, International Seaways has an average rating of “Moderate Buy” and an average price target of $62.67.

Insider Transactions at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $51.19, for a total transaction of $51,190.00. Following the transaction, the senior vice president now owns 53,803 shares in the company, valued at $2,754,175.57. The trade was a 0.00 % decrease in their position. 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 the firm’s stock in a transaction dated 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 in the company, valued at $2,754,175.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $49.40, for a total value of $98,800.00. Following the transaction, the chief executive officer now directly owns 157,475 shares in the company, valued at approximately $7,779,265. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock valued at $695,870 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of INSW. Magnetar Financial LLC purchased a new position in shares of International Seaways in the 1st quarter worth about $2,604,000. SG Americas Securities LLC increased its stake in shares of International Seaways by 102.1% during the 2nd quarter. SG Americas Securities LLC now owns 21,082 shares of the transportation company’s stock worth $1,247,000 after purchasing an additional 10,652 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of International Seaways by 101.5% in the 1st quarter. BNP Paribas Financial Markets now owns 34,543 shares of the transportation company’s stock worth $1,838,000 after purchasing an additional 17,399 shares during the period. Prevail Innovative Wealth Advisors LLC purchased a new position in International Seaways in the first quarter valued at approximately $1,735,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in International Seaways by 269.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 42,834 shares of the transportation company’s stock valued at $2,279,000 after purchasing an additional 31,231 shares during the period. Institutional investors own 67.29% 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.