Denali Advisors LLC Sells 33,546 Shares of International Seaways Inc. $INSW

Key Points

• Denali Advisors LLC cut its stake in International Seaways by 68.8% in the fourth quarter, selling 33,546 shares and leaving it with 15,228 shares valued at about $739,000.
• International Seaways reported strong quarterly results, with earnings of $3.90 per share versus estimates of $2.87 and revenue of $325.48 million, up 77.5% year over year.
• The company also announced a quarterly dividend of $0.12 per share, while analysts currently rate the stock a Moderate Buy with a consensus price target of $83.50.

Denali Advisors LLC reduced its position in shares of International Seaways Inc. (NYSE:INSW - Free Report) by 68.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,228 shares of the transportation company's stock after selling 33,546 shares during the period. Denali Advisors LLC's holdings in International Seaways were worth $739,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of International Seaways by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,903,764 shares of the transportation company's stock worth $133,807,000 after buying an additional 42,051 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of International Seaways by 7.5% in the 3rd quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company's stock worth $91,929,000 after acquiring an additional 139,868 shares in the last quarter. Bridgeway Capital Management LLC grew its position in International Seaways by 1.1% during the 3rd quarter. Bridgeway Capital Management LLC now owns 386,870 shares of the transportation company's stock worth $17,827,000 after acquiring an additional 4,378 shares during the last quarter. AQR Capital Management LLC increased its holdings in International Seaways by 46.4% during the 2nd quarter. AQR Capital Management LLC now owns 306,160 shares of the transportation company's stock valued at $11,169,000 after purchasing an additional 97,081 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in International Seaways by 105.2% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 270,386 shares of the transportation company's stock valued at $9,864,000 after purchasing an additional 138,625 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Stock Performance

INSW stock opened at $91.47 on Friday. The company has a 50 day moving average price of $74.69 and a 200 day moving average price of $61.28. International Seaways Inc. has a fifty-two week low of $35.60 and a fifty-two week high of $92.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 3.71. The stock has a market capitalization of $4.53 billion, a PE ratio of 8.33 and a beta of -0.09.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, beating analysts' consensus estimates of $2.87 by $1.03. The firm had revenue of $325.48 million for the quarter, compared to analyst estimates of $279.34 million. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The business's quarterly revenue was up 77.5% compared to the same quarter last year. During the same period last year, the company earned $0.80 EPS. Analysts forecast that International Seaways Inc. will post 13.6 EPS for the current year.

International Seaways Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a $0.12 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.48 annualized dividend and a yield of 0.5%. International Seaways's dividend payout ratio (DPR) is currently 7.70%.

Insider Transactions at International Seaways

In other news, Director Alexandra Kate Blankenship sold 5,000 shares of the firm's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $74.88, for a total value of $374,400.00. Following the transaction, the director owned 10,213 shares of the company's stock, valued at approximately $764,749.44. This trade represents a 32.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Treasurer Debra Grillo sold 389 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $76.27, for a total transaction of $29,669.03. Following the sale, the treasurer directly owned 1,185 shares of the company's stock, valued at approximately $90,379.95. This trade represents a 24.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 60,697 shares of company stock valued at $4,517,070. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on INSW shares. Weiss Ratings lowered International Seaways from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, April 7th. Zacks Research lowered International Seaways from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. Benchmark reaffirmed a "buy" rating on shares of International Seaways in a report on Thursday, February 26th. Pareto Securities upgraded shares of 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, Wall Street Zen raised shares of International Seaways from a "buy" rating to a "strong-buy" rating in a report on Monday, April 13th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $83.50.

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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