International Seaways, Inc. (NYSE:INSW) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in International Seaways, Inc. (NYSE:INSW - Free Report) by 6,709.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,612 shares of the transportation company's stock after purchasing 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 reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Banque Transatlantique SA purchased a new position in International Seaways in the 4th quarter valued at $29,000. Larson Financial Group LLC purchased a new stake in shares of International Seaways during the fourth quarter worth approximately $37,000. Quarry LP grew its holdings in International Seaways by 169.0% during the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company's stock worth $49,000 after acquiring an additional 852 shares during the period. KBC Group NV grew its holdings in International Seaways by 60.2% in the fourth quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock valued at $62,000 after purchasing an additional 653 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in shares of International Seaways in the fourth quarter valued at $69,000. Institutional investors and hedge funds own 67.29% of the company's stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reiterated a "buy" rating and issued a $48.00 target price on shares of International Seaways in a research note on Thursday, May 8th.

International Seaways Trading Down 0.8%

International Seaways stock traded down $0.32 during mid-day trading on Friday, hitting $37.34. The stock had a trading volume of 637,047 shares, compared to its average volume of 750,430. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 12 month low of $27.20 and a 12 month high of $62.54. The stock has a market capitalization of $1.84 billion, a PE ratio of 3.61 and a beta of 0.05. The stock has a 50-day simple moving average of $34.91 and a two-hundred day simple moving average of $36.13.

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

International Seaways Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, June 12th. International Seaways's dividend payout ratio (DPR) is presently 7.42%.

Insider Activity at International Seaways

In other International Seaways news, SVP Derek G. Solon sold 4,400 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $33.39, for a total value of $146,916.00. Following the completion of the sale, the senior vice president now owns 50,453 shares in the company, valued at approximately $1,684,625.67. This represents a 8.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $34.66, for a total transaction of $69,320.00. Following the completion of the sale, the chief executive officer now directly owns 179,557 shares of the company's stock, valued at approximately $6,223,445.62. The trade was a 1.10% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,900 shares of company stock valued at $516,956. Company 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.