International Seaways Inc (NYSE:INSW) saw a large growth in short interest in June. As of June 30th, there was short interest totalling 796,000 shares, a growth of 9.1% from the May 30th total of 729,600 shares. Based on an average daily trading volume, of 191,100 shares, the days-to-cover ratio is currently 4.2 days. Approximately 2.8% of the company’s shares are sold short.
INSW traded up $0.12 on Tuesday, reaching $18.88. 1,268 shares of the company traded hands, compared to its average volume of 172,613. The company has a current ratio of 1.92, a quick ratio of 1.88 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $548.17 million, a P/E ratio of -8.53 and a beta of 0.20. The firm has a fifty day moving average price of $18.38. International Seaways has a one year low of $15.61 and a one year high of $22.50.
International Seaways (NYSE:INSW) last posted its earnings results on Thursday, May 9th. The transportation company reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. The business had revenue of $101.87 million for the quarter, compared to the consensus estimate of $96.31 million. International Seaways had a negative net margin of 15.22% and a negative return on equity of 3.01%. Equities research analysts expect that International Seaways will post 0.19 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of INSW. Rhumbline Advisers grew its position in shares of International Seaways by 41.5% in the 4th quarter. Rhumbline Advisers now owns 31,479 shares of the transportation company’s stock worth $530,000 after buying an additional 9,228 shares during the last quarter. California Public Employees Retirement System grew its position in shares of International Seaways by 39.4% in the 4th quarter. California Public Employees Retirement System now owns 23,055 shares of the transportation company’s stock worth $388,000 after buying an additional 6,520 shares during the last quarter. BlackRock Inc. grew its position in shares of International Seaways by 2.7% in the 4th quarter. BlackRock Inc. now owns 1,616,320 shares of the transportation company’s stock worth $27,219,000 after buying an additional 41,866 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of International Seaways by 3.6% in the 4th quarter. Bank of New York Mellon Corp now owns 109,638 shares of the transportation company’s stock worth $1,846,000 after buying an additional 3,760 shares during the last quarter. Finally, United Services Automobile Association grew its position in shares of International Seaways by 19.4% in the 4th quarter. United Services Automobile Association now owns 12,700 shares of the transportation company’s stock worth $214,000 after buying an additional 2,066 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.
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 trades. It operates through two segments, Crude Tankers and Product Carriers. As of December 31, 2018, the company owned and operated a fleet of 48 vessels, including 13 very large crude carriers, 2 Suezmaxes, 6 Aframaxes, 11 Panamaxes, and 10 medium range tankers.
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