PEAK6 Investments LLC Makes New Investment in International Seaways, Inc. (NYSE:INSW)

PEAK6 Investments LLC purchased a new stake in International Seaways, Inc. (NYSE:INSW) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,221 shares of the transportation company’s stock, valued at approximately $682,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. SG Americas Securities LLC raised its position in International Seaways by 102.1% in the 2nd 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 during the last quarter. Kingsview Wealth Management LLC bought a new position in shares of International Seaways during the 3rd quarter worth approximately $2,161,000. QRG Capital Management Inc. raised its holdings in shares of International Seaways by 227.5% in the second quarter. QRG Capital Management Inc. now owns 26,253 shares of the transportation company’s stock valued at $1,552,000 after purchasing an additional 18,237 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of International Seaways by 88.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 71,206 shares of the transportation company’s stock worth $3,671,000 after purchasing an additional 33,392 shares in the last quarter. Finally, Aurora Investment Counsel acquired a new position in International Seaways during the third quarter worth $661,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Insider Buying and Selling at International Seaways

In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the business’s stock in a transaction that occurred 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 owns 16,109 shares in the company, valued at $792,079.53. The trade was a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Derek G. Solon sold 1,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.75, for a total value of $49,750.00. Following the transaction, the senior vice president now owns 46,887 shares in the company, valued at approximately $2,332,628.25. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,200 shares of company stock valued at $758,822 in the last quarter. 1.90% of the stock is currently owned by insiders.

International Seaways Stock Up 3.9 %

International Seaways stock opened at $39.74 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The company’s 50-day moving average is $45.90 and its 200-day moving average is $52.17. The firm has a market capitalization of $1.95 billion, a PE ratio of 3.84 and a beta of -0.10. International Seaways, Inc. has a fifty-two week low of $38.12 and a fifty-two week high of $65.94.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The firm had revenue of $225.20 million for the quarter, compared to the consensus estimate of $208.75 million. During the same quarter in the previous year, the business earned $1.99 earnings per share. The business’s revenue was down 6.8% compared to the same quarter last year. Sell-side analysts anticipate that International Seaways, Inc. will post 7.92 earnings per share for the current year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 13.29%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio is 4.64%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Stifel Nicolaus lowered shares of International Seaways from a “buy” rating to a “hold” rating and lowered their price target for the company from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group dropped their target price on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Fearnley Fonds raised International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Finally, StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

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.