Amundi Sells 252,097 Shares of International Seaways Inc. $INSW

Key Points

• Amundi sharply reduced its International Seaways stake by selling 252,097 shares, an 89.6% decrease, leaving it with 29,314 shares worth approximately $2.14 million. Institutional investors collectively own 67.29% of the company.
• International Seaways reported a strong quarter, with EPS of $3.90 versus the $2.87 consensus and revenue of $325.48 million, up 77.5% year over year. Analysts project full-year EPS of $15.62.
• Analyst sentiment remains broadly positive: the stock carries a consensus “Buy” rating, with a target price of $86, while BTIG raised its target to $100. INSW recently opened at $93.20, near its 12-month high of $98.23.

Amundi cut its stake in International Seaways Inc. (NYSE:INSW - Free Report) by 89.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,314 shares of the transportation company's stock after selling 252,097 shares during the quarter. Amundi owned about 0.06% of International Seaways worth $2,136,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in INSW. First Horizon Corp boosted its position in International Seaways by 121.6% during the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company's stock valued at $33,000 after purchasing an additional 377 shares in the last quarter. Leonteq Securities AG bought a new position in International Seaways in the fourth quarter worth about $44,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of International Seaways during the fourth quarter valued at about $46,000. Rockefeller Capital Management L.P. lifted its position in shares of International Seaways by 583.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company's stock valued at $47,000 after buying an additional 822 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of International Seaways by 85.0% during the first quarter. Parallel Advisors LLC now owns 1,099 shares of the transportation company's stock valued at $80,000 after buying an additional 505 shares during the last quarter. 67.29% of the stock is owned by institutional investors.

International Seaways Stock Performance

INSW opened at $93.20 on Friday. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. International Seaways Inc. has a 12-month low of $41.20 and a 12-month high of $98.23. The firm has a 50 day moving average of $85.64 and a two-hundred day moving average of $77.05. The firm has a market capitalization of $4.61 billion, a PE ratio of 8.49 and a beta of -0.13.

International Seaways (NYSE:INSW - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, beating the consensus estimate of $2.87 by $1.03. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The business had revenue of $325.48 million for the quarter, compared to the consensus estimate of $279.34 million. During the same period in the prior year, the firm earned $0.80 EPS. The business's revenue for the quarter was up 77.5% on a year-over-year basis. On average, analysts anticipate that International Seaways Inc. will post 15.62 EPS for the current year.

Insider Buying and Selling

In other news, CFO Jeffrey Pribor sold 1,000 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.68, for a total value of $81,680.00. Following the completion of the transaction, the chief financial officer owned 101,984 shares of the company's stock, valued at $8,330,053.12. The trade was a 0.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Derek G. Solon sold 4,700 shares of International Seaways stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $89.22, for a total value of $419,334.00. Following the transaction, the senior vice president owned 49,719 shares of the company's stock, valued at approximately $4,435,929.18. This represents a 8.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 42,530 shares of company stock worth $3,699,995. Corporate insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on INSW shares. BTIG Research lifted their price objective on shares of International Seaways from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, June 24th. Wall Street Zen raised shares of International Seaways from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 13th. Pareto Securities downgraded shares of International Seaways from a "buy" rating to a "hold" rating in a research note on Monday, May 18th. Weiss Ratings upgraded shares of International Seaways from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. Finally, Zacks Research raised shares of International Seaways from a "hold" rating to a "strong-buy" rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, International Seaways has an average rating of "Buy" and a consensus target price of $86.00.

International Seaways Company 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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