Denali Advisors LLC Acquires 9,600 Shares of International Seaways Inc. $INSW

Key Points

• Denali Advisors LLC increased its stake in International Seaways by 61.9%, acquiring an additional 9,600 shares, which brings its total holdings to 25,100 shares valued at $916,000.
• As of the most recent filings, hedge funds and institutional investors own 67.29% of International Seaways, indicating strong institutional interest in the stock.
• International Seaways reported a net margin of 29.88% with a quarterly earnings data including a loss of ($0.63) EPS, alongside announcing a quarterly dividend of $0.12 per share.

Denali Advisors LLC boosted its stake in shares of International Seaways Inc. (NYSE:INSW - Free Report) by 61.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,100 shares of the transportation company's stock after purchasing an additional 9,600 shares during the period. Denali Advisors LLC owned about 0.05% of International Seaways worth $916,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in International Seaways by 18.3% during the second quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company's stock valued at $68,000 after purchasing an additional 289 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in International Seaways by 3.1% during the second quarter. SummerHaven Investment Management LLC now owns 14,185 shares of the transportation company's stock valued at $517,000 after purchasing an additional 426 shares in the last quarter. Arizona State Retirement System lifted its position in International Seaways by 3.9% during the first quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company's stock valued at $398,000 after purchasing an additional 455 shares in the last quarter. GAMMA Investing LLC lifted its position in International Seaways by 105.1% during the first quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock valued at $39,000 after purchasing an additional 596 shares in the last quarter. Finally, Lesa Sroufe & Co lifted its position in International Seaways by 1.1% during the second quarter. Lesa Sroufe & Co now owns 58,161 shares of the transportation company's stock valued at $2,122,000 after purchasing an additional 608 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

International Seaways Price Performance

Shares of International Seaways stock opened at $46.44 on Thursday. The stock's 50-day simple moving average is $45.67 and its 200-day simple moving average is $40.29. International Seaways Inc. has a 52 week low of $27.20 and a 52 week high of $49.83. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 9.65 and a beta of 0.01. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data on Wednesday, November 23rd. The transportation company reported ($0.63) EPS for the quarter. International Seaways had a net margin of 29.88% and a return on equity of 11.35%. The business had revenue of $84.82 million during the quarter. As a group, analysts expect that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Wednesday, September 10th. International Seaways's payout ratio is presently 9.98%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on INSW shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of International Seaways in a research report on Wednesday, October 8th. BTIG Research lowered their target price on International Seaways from $70.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, International Seaways presently has an average rating of "Moderate Buy" and a consensus price target of $52.67.

Insiders Place Their Bets

In other news, CFO Jeffrey Pribor sold 1,000 shares of the business's stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $44.00, for a total value of $44,000.00. Following the transaction, the chief financial officer directly owned 67,695 shares in the company, valued at $2,978,580. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $49.08, for a total value of $98,160.00. Following the completion of the sale, the chief executive officer owned 188,771 shares in the company, valued at $9,264,880.68. This represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,000 shares of company stock valued at $777,530. Insiders own 2.00% of the company's stock.

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.

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