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

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group restated a “buy” rating and issued a $66.00 price target on shares of International Seaways in a research report on Wednesday, August 7th. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Stifel Nicolaus increased 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. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, International Seaways presently has a consensus rating of “Buy” and an average price target of $68.00.

International Seaways Stock Performance

INSW traded down $2.17 on Tuesday, reaching $48.52. The stock had a trading volume of 890,577 shares, compared to its average volume of 570,597. International Seaways has a 12-month low of $42.08 and a 12-month high of $65.94. The company has a current ratio of 3.89, a quick ratio of 3.87 and a debt-to-equity ratio of 0.35. The business’s 50-day moving average price is $50.78 and its two-hundred day moving average price is $55.31. The company has a market cap of $2.40 billion, a P/E ratio of 4.53 and a beta of -0.08.

International Seaways (NYSE:INSW) last posted its quarterly earnings results 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 for 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 firm’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.12 EPS. Sell-side analysts forecast that International Seaways will post 9.51 earnings per share for the current 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. This represents a $0.48 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Wednesday, September 11th. International Seaways’s payout ratio is 4.49%.

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 completion of the sale, the chief financial officer now owns 38,849 shares of the company’s stock, valued at $2,174,378.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $55.97, for a total transaction of $55,970.00. Following 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the 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 sale, the chief executive officer now directly owns 157,475 shares in the company, valued at $7,779,265. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,000 shares of company stock valued at $653,400. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of INSW. EdgeRock Capital LLC purchased a new position in shares of International Seaways in the 2nd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC acquired a new stake in International Seaways during the 1st quarter worth approximately $27,000. Headlands Technologies LLC boosted its position in International Seaways by 173.4% during the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after purchasing an additional 574 shares during the period. Quarry LP grew its holdings in International Seaways by 408.0% during the 2nd 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 lifted its stake in shares of International Seaways by 47.9% in the second quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock worth $87,000 after acquiring an additional 476 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

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.