Gordian Capital Singapore Pte Ltd Makes New $742,000 Investment in International Seaways, Inc. (NYSE:INSW)

Gordian Capital Singapore Pte Ltd bought a new position in International Seaways, Inc. (NYSE:INSW) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,550 shares of the transportation company’s stock, valued at approximately $742,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INSW. EverSource Wealth Advisors LLC purchased a new stake in shares of International Seaways during the first quarter worth about $27,000. EdgeRock Capital LLC purchased a new position in shares of International Seaways in the second quarter worth $28,000. Headlands Technologies LLC grew its stake in International Seaways by 173.4% during the first quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock valued at $48,000 after acquiring an additional 574 shares in the last quarter. Quarry LP increased its holdings in International Seaways by 408.0% in the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after acquiring an additional 1,167 shares during the last quarter. Finally, CWM LLC lifted its stake in International Seaways by 47.9% in the 2nd quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock worth $87,000 after purchasing an additional 476 shares in the last quarter. Institutional investors own 67.29% of the company’s stock.

Insider Transactions at International Seaways

In other International Seaways news, Director Alexandra Kate Blankenship sold 5,000 shares of the firm’s 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 completion of the transaction, the director now directly owns 16,109 shares of the company’s stock, valued at approximately $792,079.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other International Seaways news, Director Alexandra Kate Blankenship sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total value of $245,850.00. Following the sale, the director now owns 16,109 shares in the company, valued at approximately $792,079.53. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $49.40, for a total value of $98,800.00. Following the sale, the chief executive officer now owns 157,475 shares in the company, valued at $7,779,265. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,000 shares of company stock worth $653,400. Insiders own 1.90% of the company’s stock.

International Seaways Price Performance

Shares of INSW stock opened at $51.40 on Wednesday. The firm has a market capitalization of $2.54 billion, a P/E ratio of 4.80 and a beta of -0.07. 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, Inc. has a 52-week low of $40.68 and a 52-week high of $65.94. The stock has a 50 day moving average price of $51.22 and a 200 day moving average price of $55.31.

International Seaways (NYSE:INSW) last issued 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). International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The business had revenue of $257.40 million for the quarter, compared to the consensus estimate of $256.13 million. During the same quarter in the previous year, the company earned $3.12 earnings per share. The firm’s revenue was down 11.9% on a year-over-year basis. As a group, sell-side analysts predict that International Seaways, Inc. will post 9.51 earnings per share for the current 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 given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $0.48 dividend on an annualized basis and a yield of 0.93%. International Seaways’s payout ratio is 4.49%.

Wall Street Analyst Weigh In

INSW has been the subject of a number of research reports. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $66.00 price target on shares of International Seaways in a report on Wednesday, August 7th. Finally, Stifel Nicolaus boosted their price objective on International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average 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.