PDT Partners LLC Decreases Holdings in International Seaways, Inc. (NYSE:INSW)

PDT Partners LLC trimmed its stake in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 28.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,842 shares of the transportation company's stock after selling 20,664 shares during the quarter. PDT Partners LLC owned approximately 0.10% of International Seaways worth $2,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Martingale Asset Management L P grew its position in shares of International Seaways by 2.9% in the 3rd quarter. Martingale Asset Management L P now owns 61,805 shares of the transportation company's stock worth $3,187,000 after buying an additional 1,725 shares during the last quarter. PEAK6 Investments LLC bought a new stake in shares of International Seaways in the 3rd quarter worth approximately $682,000. Cynosure Group LLC grew its position in shares of International Seaways by 6.6% in the 3rd quarter. Cynosure Group LLC now owns 7,171 shares of the transportation company's stock worth $370,000 after buying an additional 447 shares during the last quarter. FMR LLC grew its position in shares of International Seaways by 221.0% in the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company's stock worth $31,050,000 after buying an additional 414,610 shares during the last quarter. Finally, Kingsview Wealth Management LLC purchased a new position in International Seaways during the third quarter valued at $2,161,000. 67.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on INSW. Fearnley Fonds upgraded International Seaways to a "strong-buy" rating in a research note on Friday, September 27th. Jefferies Financial Group decreased their price objective on International Seaways from $66.00 to $60.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th. Stifel Nicolaus downgraded International Seaways from a "buy" rating to a "hold" rating and decreased their price objective for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Finally, StockNews.com cut International Seaways from a "buy" rating to a "hold" rating in a research note on Thursday, August 8th. Two 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $60.67.

Insider Buying and Selling

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $41.83, for a total value of $83,660.00. Following the completion of the sale, the chief executive officer now owns 151,475 shares of the company's stock, valued at approximately $6,336,199.25. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Derek G. Solon sold 1,200 shares of the firm's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total value of $46,692.00. Following the sale, the senior vice president now directly owns 45,687 shares of the company's stock, valued at approximately $1,777,681.17. This trade represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,200 shares of company stock valued at $719,282 over the last ninety days. Company insiders own 1.90% of the company's stock.

International Seaways Stock Down 1.6 %

NYSE INSW traded down $0.62 during midday trading on Friday, hitting $39.00. 429,949 shares of the company traded hands, compared to its average volume of 598,166. 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 has a market cap of $1.92 billion, a PE ratio of 3.77 and a beta of -0.06. The company's 50-day simple moving average is $46.39 and its 200-day simple moving average is $52.59. International Seaways, Inc. has a 52 week low of $38.67 and a 52 week high of $65.94.

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

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $1.32 dividend. The ex-dividend date is Friday, December 13th. This is a positive change 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 13.54%. International Seaways's dividend payout ratio is currently 4.64%.

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.