16,000 Shares in International Seaways Inc. $INSW Purchased by Gordian Capital Singapore Pte Ltd

Key Points

• Gordian Capital Singapore opened a new stake in International Seaways (INSW) during Q3, buying 16,000 shares valued at about $737,000, as institutional ownership stands around 67.3%.
• Company insiders have been net sellers recently: two directors sold 5,000 and 4,090 shares on March 9, and insiders disposed of 60,697 shares worth roughly $4.4 million over the past three months.
• International Seaways reported a strong quarter—EPS $2.45 vs. $1.75 expected and revenue $267.9M (up 37.7% YoY)—announced a $0.12 quarterly dividend (0.7% yield), and has seen multiple analyst upgrades to a consensus "Buy" rating.

Gordian Capital Singapore Pte Ltd acquired a new stake in International Seaways Inc. (NYSE:INSW - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 16,000 shares of the transportation company's stock, valued at approximately $737,000.

Several other institutional investors have also added to or reduced their stakes in INSW. Federated Hermes Inc. increased its stake in shares of International Seaways by 99.5% in 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 in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of International Seaways by 601.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company's stock valued at $55,000 after buying an additional 1,293 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of International Seaways by 450.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,541 shares of the transportation company's stock valued at $71,000 after buying an additional 1,261 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in International Seaways by 240.1% in the 2nd quarter. NewEdge Advisors LLC now owns 2,010 shares of the transportation company's stock worth $73,000 after buying an additional 1,419 shares during the period. Finally, State of Wyoming purchased a new position in International Seaways in the 2nd quarter valued at approximately $87,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $74.88, for a total transaction of $374,400.00. Following the transaction, the director directly owned 10,213 shares in the company, valued at approximately $764,749.44. This represents a 32.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Randee E. Day sold 4,090 shares of the firm's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $74.93, for a total value of $306,463.70. Following the transaction, the director directly owned 18,435 shares in the company, valued at approximately $1,381,334.55. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 60,697 shares of company stock valued at $4,402,750 in the last three months. 2.00% of the stock is owned by corporate insiders.

International Seaways Stock Down 3.4%

Shares of NYSE INSW opened at $73.20 on Wednesday. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average of $61.44 and a 200-day moving average of $53.19. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 11.75 and a beta of -0.23. International Seaways Inc. has a 12 month low of $27.20 and a 12 month high of $78.51.

International Seaways (NYSE:INSW - Get Free Report) last announced its earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.75 by $0.70. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. The business had revenue of $267.88 million for the quarter, compared to the consensus estimate of $245.29 million. During the same period last year, the firm posted $0.90 earnings per share. International Seaways's quarterly revenue was up 37.7% on a year-over-year basis. Sell-side analysts expect that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, March 20th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, March 20th. International Seaways's payout ratio is currently 7.70%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on INSW. Wall Street Zen raised International Seaways from a "hold" rating to a "buy" rating in a report on Saturday. Deutsche Bank Aktiengesellschaft increased their price objective on International Seaways from $63.00 to $80.00 and gave the stock a "buy" rating in a report on Monday. Benchmark reaffirmed a "buy" rating on shares of International Seaways in a report on Thursday, February 26th. Pareto Securities upgraded International Seaways from a "hold" rating to a "buy" rating and set a $64.00 price target on the stock in a research report on Tuesday, January 20th. Finally, BTIG Research raised their price objective on shares of International Seaways from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, International Seaways currently has a consensus rating of "Buy" and a consensus target price of $68.00.

International Seaways Profile

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.

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