International Seaways, Inc. (NYSE:INSW) Short Interest Up 9.4% in September

International Seaways, Inc. (NYSE:INSW) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totalling 862,000 shares, an increase of 9.4% from the August 31st total of 788,100 shares. Based on an average daily volume of 609,900 shares, the short-interest ratio is presently 1.4 days.

International Seaways Trading Up 0.3 %

Shares of NYSE:INSW traded up $0.14 during mid-day trading on Tuesday, reaching $51.70. 117,049 shares of the company’s stock were exchanged, compared to its average volume of 569,056. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 4.82 and a beta of -0.07. The business’s fifty day moving average price is $51.22 and its 200-day moving average price is $55.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.87 and a current ratio of 3.89. International Seaways has a twelve month low of $40.68 and a twelve month high of $65.94.

International Seaways (NYSE:INSW) last released its earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.13). The firm had revenue of $257.40 million during the quarter, compared to analyst estimates of $256.13 million. International Seaways had a net margin of 50.70% and a return on equity of 26.55%. International Seaways’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.12 EPS. On average, research analysts predict that International Seaways will post 9.51 EPS for the current fiscal year.

International Seaways Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th were issued a $0.12 dividend. The ex-dividend date was Wednesday, September 11th. This represents a $0.48 annualized dividend and a yield of 0.93%. International Seaways’s payout ratio is 4.49%.

Insiders Place Their Bets

In other International Seaways news, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.17, for a total transaction of $245,850.00. Following the transaction, the director now owns 16,109 shares in the company, valued at approximately $792,079.53. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other International Seaways news, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.17, for a total transaction of $245,850.00. Following the transaction, the director now owns 16,109 shares in the company, valued at approximately $792,079.53. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $51.19, for a total transaction of $51,190.00. Following the sale, the senior vice president now owns 53,803 shares in the company, valued at approximately $2,754,175.57. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $602,160 in the last quarter. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in International Seaways in the second quarter valued at $8,781,000. Point72 DIFC Ltd bought a new stake in shares of International Seaways during the second quarter worth about $157,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of International Seaways during the second quarter worth about $742,000. Point72 Asset Management L.P. increased its position in shares of International Seaways by 75.5% during the second quarter. Point72 Asset Management L.P. now owns 8,600 shares of the transportation company’s stock worth $509,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Quarry LP increased its position in shares of International Seaways by 408.0% during the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after acquiring an additional 1,167 shares in the last quarter. 67.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on INSW shares. Jefferies Financial Group reissued a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a research note on Wednesday, August 7th. Stifel Nicolaus lifted their price objective on shares of International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research note on Friday. Finally, StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $68.00.

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.