International Seaways, Inc. (NYSE:INSW) Short Interest Up 36.9% in September

International Seaways, Inc. (NYSE:INSW) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,180,000 shares, an increase of 36.9% from the September 15th total of 862,000 shares. Based on an average daily volume of 617,800 shares, the days-to-cover ratio is currently 1.9 days.

International Seaways Trading Down 4.3 %

Shares of International Seaways stock traded down $2.17 on Tuesday, reaching $48.52. 890,577 shares of the company’s stock were exchanged, compared to its average volume of 570,597. The company has a market capitalization of $2.40 billion, a P/E ratio of 4.53 and a beta of -0.08. International Seaways has a 52 week low of $42.08 and a 52 week high of $65.94. The firm’s 50-day moving average is $50.78 and its two-hundred day moving average 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 (NYSE:INSW) last issued its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.13). The company had revenue of $257.40 million during the quarter, compared to analysts’ expectations of $256.13 million. International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period last year, the company earned $3.12 earnings per share. Sell-side analysts predict that International Seaways will post 9.51 EPS for the current fiscal year.

International Seaways Cuts Dividend

The firm also recently disclosed 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 was Wednesday, September 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. International Seaways’s dividend payout ratio (DPR) is 4.49%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on INSW. Stifel Nicolaus boosted their price target 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. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 price target on shares of International Seaways in a research report on Wednesday, August 7th. Finally, StockNews.com cut International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $68.00.

Insider Activity

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $55.97, for a total transaction of $55,970.00. Following the transaction, the chief financial officer now directly owns 38,849 shares of the company’s stock, valued at $2,174,378.53. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Alexandra Kate Blankenship sold 5,000 shares of the 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 directly owns 16,109 shares in the company, valued at $792,079.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $55.97, for a total transaction of $55,970.00. Following the completion of the sale, the chief financial officer now directly owns 38,849 shares of the company’s stock, valued at approximately $2,174,378.53. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,000 shares of company stock worth $653,400. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Seaways

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

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.