Point72 DIFC Ltd Takes $157,000 Position in International Seaways, Inc. (NYSE:INSW)

Point72 DIFC Ltd acquired a new stake in shares of International Seaways, Inc. (NYSE:INSW) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,656 shares of the transportation company’s stock, valued at approximately $157,000.

Other institutional investors also recently made changes to their positions in the company. Magnetar Financial LLC purchased a new stake in shares of International Seaways during the 1st quarter valued at $2,604,000. SG Americas Securities LLC lifted its holdings in shares of International Seaways by 102.1% during the 2nd quarter. SG Americas Securities LLC now owns 21,082 shares of the transportation company’s stock valued at $1,247,000 after acquiring an additional 10,652 shares in the last quarter. GeoSphere Capital Management LLC acquired a new position in shares of International Seaways during the 4th quarter valued at $2,501,000. BNP Paribas Financial Markets lifted its holdings in shares of International Seaways by 101.5% during the 1st quarter. BNP Paribas Financial Markets now owns 34,543 shares of the transportation company’s stock valued at $1,838,000 after acquiring an additional 17,399 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC acquired a new position in shares of International Seaways during the 1st quarter valued at $1,735,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Stock Performance

Shares of INSW stock opened at $51.82 on Friday. International Seaways, Inc. has a 12 month low of $40.68 and a 12 month high of $65.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.89 and a quick ratio of 3.87. The firm has a market capitalization of $2.56 billion, a P/E ratio of 4.84 and a beta of -0.07. The company’s fifty day moving average price is $51.36 and its two-hundred day moving average price is $55.27.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 26.55% and a net margin of 50.70%. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.12 EPS. On average, research analysts anticipate that International Seaways, Inc. will post 9.51 earnings per share for the current fiscal year.

International Seaways Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.93%. International Seaways’s dividend payout ratio (DPR) is presently 4.49%.

Insider Activity

In other news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $58.83, for a total value of $58,830.00. Following the sale, the chief financial officer now owns 39,849 shares in the company, valued at approximately $2,344,316.67. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $49.40, for a total transaction of $98,800.00. Following the completion of the sale, the chief executive officer now owns 157,475 shares of the company’s stock, valued at approximately $7,779,265. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $58.83, for a total transaction of $58,830.00. Following the sale, the chief financial officer now directly owns 39,849 shares of the company’s stock, valued at approximately $2,344,316.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,000 shares of company stock worth $660,990. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a 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 Wednesday, August 7th. Finally, Stifel Nicolaus lifted their target price on shares of International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.75.

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.