International Seaways, Inc. (NYSE:INSW) Stock Holdings Lessened by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP trimmed its stake in International Seaways, Inc. (NYSE:INSW) by 5.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,660 shares of the transportation company’s stock after selling 3,235 shares during the quarter. ExodusPoint Capital Management LP owned 0.11% of International Seaways worth $2,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. acquired a new position in International Seaways in the third quarter worth approximately $28,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of International Seaways in the fourth quarter worth about $46,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of International Seaways in the first quarter worth about $58,000. Spire Wealth Management lifted its position in shares of International Seaways by 33.6% in the first quarter. Spire Wealth Management now owns 1,392 shares of the transportation company’s stock worth $58,000 after buying an additional 350 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of International Seaways by 29.8% in the fourth quarter. Wells Fargo & Company MN now owns 1,672 shares of the transportation company’s stock worth $62,000 after buying an additional 384 shares during the last quarter. Institutional investors and hedge funds own 63.08% of the company’s stock.

Insider Activity

In related news, CEO Lois K. Zabrocky sold 1,000 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $36.74, for a total value of $36,740.00. Following the completion of the transaction, the chief executive officer now owns 145,244 shares of the company’s stock, valued at $5,336,264.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other International Seaways news, CEO Lois K. Zabrocky sold 1,000 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $36.74, for a total transaction of $36,740.00. Following the completion of the transaction, the chief executive officer now directly owns 145,244 shares in the company, valued at $5,336,264.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas D. Wheat sold 8,000 shares of International Seaways stock in a transaction on Friday, August 18th. The shares were sold at an average price of $46.00, for a total value of $368,000.00. Following the transaction, the director now directly owns 29,902 shares of the company’s stock, valued at $1,375,492. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,500 shares of company stock worth $1,451,875. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on INSW shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of International Seaways from $58.00 to $54.00 in a research note on Monday, May 8th. StockNews.com started coverage on International Seaways in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Stifel Nicolaus lowered their target price on International Seaways from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, July 19th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, International Seaways presently has a consensus rating of “Buy” and an average price target of $59.20.

International Seaways Stock Down 3.3 %

Shares of INSW opened at $42.97 on Friday. International Seaways, Inc. has a 52 week low of $28.51 and a 52 week high of $53.25. The firm has a market capitalization of $2.10 billion, a P/E ratio of 3.24 and a beta of 0.08. The company has a 50-day simple moving average of $41.00 and a 200-day simple moving average of $41.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.26 and a current ratio of 2.26.

International Seaways (NYSE:INSW) last issued its earnings results on Wednesday, August 9th. The transportation company reported $3.12 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.42. The business had revenue of $292.20 million during the quarter, compared to analyst estimates of $262.66 million. International Seaways had a return on equity of 42.76% and a net margin of 57.03%. On average, equities research analysts expect that International Seaways, Inc. will post 10.39 earnings per share for the current year.

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 13th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 13.22%. The ex-dividend date is Tuesday, September 12th. International Seaways’s payout ratio is 3.62%.

International Seaways 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. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.