GAMMA Investing LLC Buys 38,045 Shares of International Seaways, Inc. (NYSE:INSW)

GAMMA Investing LLC boosted its position in International Seaways, Inc. (NYSE:INSW - Free Report) by 6,709.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,612 shares of the transportation company's stock after buying an additional 38,045 shares during the quarter. GAMMA Investing LLC owned approximately 0.08% of International Seaways worth $12,820,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bridgeway Capital Management LLC acquired a new stake in shares of International Seaways during the 4th quarter worth approximately $14,269,000. Vanguard Group Inc. grew its stake in International Seaways by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock worth $171,043,000 after buying an additional 369,145 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in International Seaways in the fourth quarter worth $11,374,000. Empowered Funds LLC lifted its stake in International Seaways by 470.8% in the fourth quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company's stock valued at $9,813,000 after buying an additional 225,196 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in International Seaways by 685.6% in the fourth quarter. Principal Financial Group Inc. now owns 224,544 shares of the transportation company's stock valued at $8,070,000 after buying an additional 195,961 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company's stock.

Insider Activity at International Seaways

In other International Seaways news, SVP Derek G. Solon sold 4,400 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $33.39, for a total transaction of $146,916.00. Following the transaction, the senior vice president now owns 50,453 shares in the company, valued at $1,684,625.67. This trade represents a 8.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $37.13, for a total transaction of $37,130.00. Following the transaction, the senior vice president now directly owns 60,752 shares of the company's stock, valued at approximately $2,255,721.76. This represents a 1.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,900 shares of company stock worth $516,956 in the last quarter. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Jefferies Financial Group reaffirmed a "buy" rating and issued a $48.00 price objective on shares of International Seaways in a report on Thursday, May 8th.

International Seaways Price Performance

INSW traded up $0.30 during trading on Tuesday, reaching $37.03. The stock had a trading volume of 492,788 shares, compared to its average volume of 751,387. The stock has a 50 day moving average of $35.10 and a two-hundred day moving average of $36.02. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 3.58 and a beta of 0.05. International Seaways, Inc. has a 1-year low of $27.20 and a 1-year high of $60.99.

International Seaways (NYSE:INSW - Get Free Report) last released its earnings results on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.21. The business had revenue of $178.34 million for the quarter, compared to the consensus estimate of $176.49 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The business's revenue for the quarter was down 32.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.92 EPS. As a group, equities analysts anticipate that International Seaways, Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Thursday, June 12th. International Seaways's dividend payout ratio is 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.