QRG Capital Management Inc. Has $1.46 Million Stock Position in International Seaways, Inc. (NYSE:INSW)

QRG Capital Management Inc. increased its stake in shares of International Seaways, Inc. (NYSE:INSW) by 7.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,255 shares of the transportation company’s stock after purchasing an additional 2,002 shares during the period. QRG Capital Management Inc.’s holdings in International Seaways were worth $1,457,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in INSW. EverSource Wealth Advisors LLC bought a new stake in International Seaways in the first quarter valued at approximately $27,000. EdgeRock Capital LLC bought a new stake in shares of International Seaways in the 2nd quarter valued at $28,000. Blue Trust Inc. acquired a new stake in International Seaways during the 3rd quarter worth $41,000. Headlands Technologies LLC lifted its holdings in International Seaways by 173.4% during the first quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after acquiring an additional 574 shares in the last quarter. Finally, Quarry LP grew its stake in International Seaways by 408.0% in the second 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 period. Institutional investors own 67.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.17, for a total value of $245,850.00. Following the completion of the transaction, the director now owns 16,109 shares in the company, valued at $792,079.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 transaction of $245,850.00. Following the sale, the director now owns 16,109 shares in the company, valued at $792,079.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $43.05, for a total transaction of $43,050.00. Following the transaction, the senior vice president now owns 51,803 shares in the company, valued at approximately $2,230,119.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,000 shares of company stock valued at $738,920 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

International Seaways Stock Down 2.1 %

Shares of International Seaways stock opened at $43.88 on Friday. International Seaways, Inc. 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 business’s 50 day simple moving average is $49.18 and its 200 day simple moving average is $54.37. The firm has a market cap of $2.18 billion, a PE ratio of 4.18 and a beta of -0.06.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The business had revenue of $257.40 million during the quarter, compared to analyst estimates of $256.13 million. During the same quarter last year, the business earned $3.12 earnings per share. International Seaways’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, analysts predict that International Seaways, Inc. will post 8.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on INSW shares. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Jefferies Financial Group restated a “buy” rating and set a $66.00 target price on shares of International Seaways in a report on Thursday. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Finally, Stifel Nicolaus lowered shares of International Seaways from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.67.

International Seaways 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.