International Seaways, Inc. (NYSE:INSW) Shares Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP lifted its position in International Seaways, Inc. (NYSE:INSW - Free Report) by 230.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,046 shares of the transportation company's stock after buying an additional 34,223 shares during the period. Cinctive Capital Management LP owned approximately 0.10% of International Seaways worth $2,529,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of INSW. EdgeRock Capital LLC purchased a new stake in International Seaways in the second quarter valued at about $28,000. EverSource Wealth Advisors LLC acquired a new stake in International Seaways in the 1st quarter worth approximately $27,000. Blue Trust Inc. purchased a new stake in International Seaways during the 3rd quarter worth approximately $41,000. KBC Group NV increased its stake in International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company's stock valued at $56,000 after purchasing an additional 428 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of International Seaways by 408.0% in the second quarter. Quarry LP now owns 1,453 shares of the transportation company's stock worth $86,000 after buying an additional 1,167 shares during the last quarter. Institutional investors own 67.29% of the company's stock.

International Seaways Stock Performance

NYSE:INSW traded up $1.17 during trading hours on Tuesday, reaching $39.42. The company had a trading volume of 519,785 shares, compared to its average volume of 579,557. The business's 50 day moving average price is $46.14 and its 200-day moving average price is $52.34. International Seaways, Inc. has a 1-year low of $38.12 and a 1-year high of $65.94. The firm has a market cap of $1.94 billion, a PE ratio of 3.70 and a beta of -0.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60.

International Seaways (NYSE:INSW - Get Free Report) last posted its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.15. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The business had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. During the same period in the prior year, the company posted $1.99 EPS. The company's revenue for the quarter was down 6.8% on a year-over-year basis. Research analysts forecast that International Seaways, Inc. will post 7.92 EPS for the current year.

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $1.32 dividend. 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. This represents a $5.28 dividend on an annualized basis and a dividend yield of 13.39%. International Seaways's payout ratio is 4.64%.

Insider Activity

In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the business's stock in a transaction dated Thursday, September 12th. The shares were 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 of the company's stock, valued at $792,079.53. The trade was a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $39.54, for a total transaction of $39,540.00. Following the completion of the transaction, the senior vice president now directly owns 50,803 shares in the company, valued at $2,008,750.62. This represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,200 shares of company stock worth $758,822 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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