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

International Seaways, Inc. (NYSE:INSW - Get Free Report) was the target of a significant drop in short interest during 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 trading volume of 610,300 shares, the short-interest ratio is currently 1.7 days.

Insider Buying and Selling at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $55.97, for a total value of $55,970.00. Following the transaction, the chief financial officer now owns 38,849 shares in the company, valued at $2,174,378.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $50.30, for a total value of $100,600.00. Following the sale, the chief executive officer now directly owns 155,475 shares in the company, valued at approximately $7,820,392.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $55.97, for a total value of $55,970.00. Following the transaction, the chief financial officer now owns 38,849 shares of the company's stock, valued at approximately $2,174,378.53. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,000 shares of company stock worth $751,840 over the last ninety days. Insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On International Seaways

A number of hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC purchased a new stake in shares of International Seaways during the 1st quarter valued at about $27,000. EdgeRock Capital LLC purchased a new stake in International Seaways in the second quarter worth approximately $28,000. Blue Trust Inc. bought a new stake in International Seaways in the 3rd quarter worth approximately $41,000. Headlands Technologies LLC raised its stake in International Seaways by 173.4% during the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company's stock valued at $48,000 after buying an additional 574 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of International Seaways by 408.0% during the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company's stock valued at $86,000 after buying an additional 1,167 shares during the period. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

International Seaways Stock Down 1.7 %

Shares of International Seaways stock traded down $0.74 during midday trading on Tuesday, hitting $44.00. The company had a trading volume of 419,235 shares, compared to its average volume of 574,778. International Seaways has a 52-week low of $42.08 and a 52-week high of $65.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.87 and a current ratio of 3.89. The stock has a market capitalization of $2.17 billion, a P/E ratio of 4.11 and a beta of -0.08. The company has a 50 day moving average of $50.28 and a 200 day moving average of $54.89.

International Seaways (NYSE:INSW - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $256.13 million. International Seaways had a net margin of 50.70% and a return on equity of 26.55%. International Seaways's revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.12 earnings per share. On average, equities analysts predict that International Seaways will post 9.31 earnings per share for the current fiscal year.

International Seaways Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Wednesday, September 11th. International Seaways's payout ratio is 4.49%.

Analyst Ratings Changes

Several research firms have weighed in on INSW. Jefferies Financial Group reaffirmed a "buy" rating and set a $66.00 price objective on shares of International Seaways in a research report on Wednesday, August 7th. StockNews.com lowered International Seaways from a "buy" rating to a "hold" rating in a research report on Thursday, August 8th. Fearnley Fonds upgraded International Seaways to a "strong-buy" rating in a report on Friday, September 27th. Finally, Stifel Nicolaus lowered International Seaways from a "buy" rating to a "hold" rating and lowered their price objective for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $62.67.

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.