Bridgeway Capital Management LLC Takes $14.27 Million Position in International Seaways, Inc. (NYSE:INSW)

Bridgeway Capital Management LLC purchased a new position in shares of International Seaways, Inc. (NYSE:INSW - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 397,011 shares of the transportation company's stock, valued at approximately $14,269,000. Bridgeway Capital Management LLC owned approximately 0.81% of International Seaways at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in INSW. Banque Transatlantique SA acquired a new stake in shares of International Seaways in the fourth quarter worth $29,000. Larson Financial Group LLC acquired a new position in International Seaways during the 4th quarter worth $37,000. Quarry LP boosted its holdings in International Seaways by 169.0% during the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company's stock valued at $49,000 after acquiring an additional 852 shares during the period. R Squared Ltd acquired a new stake in shares of International Seaways in the fourth quarter valued at about $59,000. Finally, KBC Group NV increased its stake in shares of International Seaways by 60.2% in the fourth quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock worth $62,000 after purchasing an additional 653 shares during the period. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on INSW. SEB Equity Research set a $50.00 target price on International Seaways in a report on Friday, January 24th. Jefferies Financial Group reissued a "buy" rating and issued a $48.00 price target on shares of International Seaways in a report on Thursday.

Insider Activity

In related news, SVP Derek G. Solon sold 4,400 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $33.39, for a total transaction of $146,916.00. Following the sale, the senior vice president now directly owns 50,453 shares in the company, valued at $1,684,625.67. This represents a 8.02 % 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, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $33.89, for a total value of $33,890.00. Following the completion of the transaction, the senior vice president now directly owns 55,852 shares of the company's stock, valued at $1,892,824.28. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,400 shares of company stock worth $380,086. Corporate insiders own 1.90% of the company's stock.

International Seaways Price Performance

Shares of INSW stock traded up $1.18 during mid-day trading on Friday, reaching $37.78. The company's stock had a trading volume of 714,821 shares, compared to its average volume of 743,611. The firm's 50-day moving average is $33.40 and its two-hundred day moving average is $36.86. The company has a market cap of $1.86 billion, a P/E ratio of 3.65 and a beta of -0.01. International Seaways, Inc. has a 1-year low of $27.20 and a 1-year high of $65.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.21. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm had revenue of $178.34 million during the quarter, compared to analyst estimates of $176.49 million. During the same quarter in the prior year, the business posted $2.92 earnings per share. The company's quarterly revenue was down 32.9% compared to the same quarter last year. On average, research analysts predict that International Seaways, Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.27%. International Seaways's payout ratio is presently 5.72%.

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.