International Seaways Inc. (NYSE:INSW) Sees Significant Decline in Short Interest

International Seaways Inc. (NYSE:INSW) saw a significant drop in short interest in December. As of December 31st, there was short interest totaling 1,553,738 shares, a drop of 28.8% from the December 15th total of 2,183,593 shares. Based on an average daily trading volume, of 467,835 shares, the short-interest ratio is presently 3.3 days. Approximately 3.2% of the shares of the stock are short sold. Approximately 3.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 467,835 shares, the short-interest ratio is presently 3.3 days.

Insiders Place Their Bets

In related news, SVP Derek G. Solon sold 3,500 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $53.71, for a total transaction of $187,985.00. Following the completion of the transaction, the senior vice president directly owned 49,393 shares in the company, valued at $2,652,898.03. The trade was a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $55.68, for a total value of $55,680.00. Following the completion of the transaction, the chief financial officer owned 79,073 shares in the company, valued at $4,402,784.64. This represents a 1.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 32,500 shares of company stock worth $1,732,605. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On International Seaways

A number of hedge funds have recently modified their holdings of INSW. Federated Hermes Inc. boosted its holdings in shares of International Seaways by 99.5% during the third quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after purchasing an additional 378 shares during the period. Founders Capital Management raised its position in International Seaways by 37.5% during the 4th quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 300 shares during the last quarter. Advisory Services Network LLC bought a new position in International Seaways during the 3rd quarter valued at approximately $53,000. Sunbelt Securities Inc. purchased a new stake in International Seaways in the 3rd quarter worth approximately $64,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of International Seaways by 601.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock worth $55,000 after buying an additional 1,293 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on INSW shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a report on Wednesday, October 8th. Wall Street Zen downgraded International Seaways from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Pareto Securities cut shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Finally, Zacks Research downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $52.67.

International Seaways Trading Up 1.1%

INSW stock traded up $0.62 during trading on Monday, hitting $56.40. 448,338 shares of the company traded hands, compared to its average volume of 457,126. The firm has a market capitalization of $2.79 billion, a PE ratio of 12.85 and a beta of -0.18. International Seaways has a 1 year low of $27.20 and a 1 year high of $57.35. The company has a 50-day moving average of $51.53 and a 200-day moving average of $47.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.75.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Thursday, November 6th. The transportation company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.24. The business had revenue of $196.39 million for the quarter, compared to analysts’ expectations of $180.92 million. International Seaways had a return on equity of 10.13% and a net margin of 28.26%.The business’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.57 EPS. Analysts predict that International Seaways will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, December 9th. International Seaways’s dividend payout ratio is currently 10.93%.

About International Seaways

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.