nVerses Capital LLC Buys New Holdings in International Seaways, Inc. (NYSE:INSW)

nVerses Capital LLC purchased a new position in shares of International Seaways, Inc. (NYSE:INSW) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,600 shares of the transportation company’s stock, valued at approximately $213,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of International Seaways by 7.7% in the first quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock worth $212,074,000 after buying an additional 286,295 shares during the period. Goldman Sachs Group Inc. increased its position in shares of International Seaways by 57.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 403,848 shares of the transportation company’s stock valued at $18,367,000 after acquiring an additional 147,740 shares during the period. Frontier Capital Management Co. LLC raised its stake in shares of International Seaways by 20.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock valued at $36,869,000 after acquiring an additional 139,569 shares during the last quarter. Boston Partners raised its stake in shares of International Seaways by 433.9% during the first quarter. Boston Partners now owns 163,778 shares of the transportation company’s stock valued at $8,718,000 after acquiring an additional 133,102 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of International Seaways by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,198,419 shares of the transportation company’s stock worth $145,464,000 after purchasing an additional 122,642 shares during the period. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Price Performance

Shares of INSW opened at $51.83 on Monday. International Seaways, Inc. has a fifty-two week low of $40.11 and a fifty-two week high of $65.94. The firm’s 50-day simple moving average is $54.49 and its two-hundred day simple moving average is $55.61. The stock has a market cap of $2.58 billion, a PE ratio of 4.84 and a beta of -0.06. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.87 and a current ratio of 3.89.

International Seaways (NYSE:INSW) last posted its quarterly 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 company had revenue of $257.40 million during the quarter, compared to analysts’ expectations of $256.13 million. International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The business’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.12 EPS. Analysts anticipate that International Seaways, Inc. will post 9.51 earnings per share for the current fiscal year.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, September 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.93%. International Seaways’s payout ratio is presently 4.49%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on INSW shares. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft raised their price target on International Seaways from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Stifel Nicolaus boosted their price objective on shares of International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, International Seaways has a consensus rating of “Moderate Buy” and an average target price of $64.75.

Insider Transactions at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $49.40, for a total transaction of $98,800.00. Following the completion of the sale, the chief executive officer now directly owns 157,475 shares in the company, valued at approximately $7,779,265. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, 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 of the company’s stock, valued at approximately $7,779,265. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas D. Wheat sold 4,532 shares of International Seaways stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $58.15, for a total value of $263,535.80. Following the completion of the sale, the director now directly owns 20,634 shares of the company’s stock, valued at approximately $1,199,867.10. The disclosure for this sale can be found here. Insiders sold a total of 51,032 shares of company stock valued at $3,074,086 in the last quarter. 1.90% of the stock is owned by insiders.

About International Seaways

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.