PEAK6 Investments LLC Buys New Stake in International Seaways, Inc. (NYSE:INSW)

PEAK6 Investments LLC acquired a new position in International Seaways, Inc. (NYSE:INSW - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 13,221 shares of the transportation company's stock, valued at approximately $682,000.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC acquired a new stake in shares of International Seaways during the 1st quarter valued at $27,000. EdgeRock Capital LLC acquired a new stake in shares of International Seaways during the 2nd quarter valued at $28,000. Blue Trust Inc. acquired a new stake in shares of International Seaways during the 3rd quarter valued at $41,000. KBC Group NV boosted its stake in shares of 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 buying an additional 428 shares during the period. Finally, Quarry LP boosted its stake 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. Institutional investors and hedge funds own 67.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on INSW. Jefferies Financial Group decreased their target price on shares of International Seaways from $66.00 to $60.00 and set a "buy" rating for the company in a research note on Thursday, November 14th. Stifel Nicolaus lowered shares of International Seaways from a "buy" rating to a "hold" rating and reduced their price objective for the company from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Fearnley Fonds raised shares of International Seaways to a "strong-buy" rating in a research note on Friday, September 27th. Finally, StockNews.com lowered shares of 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, International Seaways has a consensus rating of "Moderate Buy" and an average target price of $60.67.

Insider Buying and Selling

In other news, SVP William F. Nugent sold 1,000 shares of the business'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 transaction, the senior vice president now owns 50,803 shares in the company, valued at approximately $2,008,750.62. The trade was a 1.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Derek G. Solon sold 1,200 shares of the business's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total transaction of $46,692.00. Following the transaction, the senior vice president now owns 45,687 shares in the company, valued at approximately $1,777,681.17. The trade was a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,200 shares of company stock worth $758,822 in the last quarter. 1.90% of the stock is currently owned by company insiders.

International Seaways Stock Down 3.7 %

Shares of INSW stock traded down $1.45 on Wednesday, hitting $38.26. The company's stock had a trading volume of 595,001 shares, compared to its average volume of 581,014. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 3.74 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. 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 firm's fifty day moving average price is $45.90 and its 200-day moving average price is $52.17.

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

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 13.80%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from International Seaways's previous quarterly dividend of $0.12. International Seaways's dividend payout ratio (DPR) is 4.64%.

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.