International Seaways, Inc. (NYSE:INSW) Shares Sold by Crestline Management LP

Crestline Management LP reduced its stake in International Seaways, Inc. (NYSE:INSW - Free Report) by 90.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,067 shares of the transportation company's stock after selling 115,488 shares during the period. Crestline Management LP's holdings in International Seaways were worth $434,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in INSW. Vanguard Group Inc. boosted its stake in shares of International Seaways by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock valued at $171,043,000 after purchasing an additional 369,145 shares in the last quarter. American Century Companies Inc. increased its stake in shares of International Seaways by 9.8% in the fourth quarter. American Century Companies Inc. now owns 1,632,753 shares of the transportation company's stock worth $58,681,000 after acquiring an additional 146,145 shares during the period. Geode Capital Management LLC increased its stake in shares of International Seaways by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 948,144 shares of the transportation company's stock worth $34,084,000 after acquiring an additional 4,769 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of International Seaways by 7.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 463,611 shares of the transportation company's stock worth $16,662,000 after acquiring an additional 32,953 shares during the period. Finally, Loomis Sayles & Co. L P increased its stake in shares of International Seaways by 1.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 429,889 shares of the transportation company's stock worth $15,450,000 after acquiring an additional 7,325 shares during the period. 67.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at International Seaways

In related news, SVP Derek G. Solon sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $38.22, for a total transaction of $57,330.00. Following the sale, the senior vice president now owns 55,893 shares in the company, valued at approximately $2,136,230.46. This trade represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $31.66, for a total transaction of $63,320.00. Following the completion of the transaction, the chief executive officer now owns 198,771 shares in the company, valued at approximately $6,293,089.86. This trade represents a 1.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,900 shares of company stock valued at $437,416. Corporate insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on INSW. SEB Equity Research set a $50.00 price target on shares of International Seaways in a research 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 research note on Thursday, May 8th.

International Seaways Stock Up 1.8%

Shares of INSW stock traded up $0.71 during trading on Friday, reaching $39.01. The company's stock had a trading volume of 239,297 shares, compared to its average volume of 740,400. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 3.77 and a beta of -0.01. The stock's 50-day moving average price is $33.73 and its 200 day moving average price is $36.73. International Seaways, Inc. has a 1-year low of $27.20 and a 1-year high of $65.94.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share 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 business had revenue of $178.34 million during the quarter, compared to the consensus estimate of $176.49 million. During the same quarter in the previous year, the firm earned $2.92 EPS. The company's revenue was down 32.9% compared to the same quarter last year. On average, research analysts anticipate that International Seaways, Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors 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 annualized dividend and a yield of 1.23%. International Seaways's dividend payout ratio is currently 7.42%.

International Seaways 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.