International Seaways Inc. $INSW Shares Sold by UBS Group AG

Key Points

• UBS Group AG cut its stake in International Seaways by 33.4% in the fourth quarter, selling 90,189 shares and leaving it with 179,634 shares worth about $8.7 million.
• Insiders also sold shares, including SVP Derek G. Solon and Director Alexandra Kate Blankenship; overall insider selling in the last quarter totaled 97,227 shares valued at about $7.7 million.
• International Seaways beat quarterly expectations, reporting EPS of $3.90 versus $2.87 expected and revenue of $325.48 million, while also announcing a $0.12 quarterly dividend payable June 26.

UBS Group AG reduced its position in International Seaways Inc. (NYSE:INSW - Free Report) by 33.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 179,634 shares of the transportation company's stock after selling 90,189 shares during the quarter. UBS Group AG owned about 0.36% of International Seaways worth $8,721,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of INSW. Royal Bank of Canada boosted its holdings in shares of International Seaways by 42.0% in the first quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company's stock valued at $311,000 after acquiring an additional 2,768 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of International Seaways by 3.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company's stock valued at $800,000 after acquiring an additional 900 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of International Seaways by 16.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company's stock valued at $4,264,000 after acquiring an additional 18,509 shares during the period. Prudential Financial Inc. acquired a new stake in shares of International Seaways in the second quarter valued at approximately $223,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of International Seaways during the second quarter worth $1,626,000. 67.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Derek G. Solon sold 6,000 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $75.41, for a total value of $452,460.00. Following the completion of the transaction, the senior vice president owned 50,989 shares in the company, valued at $3,845,080.49. This trade represents a 10.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alexandra Kate Blankenship sold 5,000 shares of the firm's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $74.88, for a total value of $374,400.00. Following the completion of the transaction, the director owned 10,213 shares of the company's stock, valued at approximately $764,749.44. This represents a 32.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 97,227 shares of company stock valued at $7,720,525. Company insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on INSW. Zacks Research downgraded International Seaways from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. Weiss Ratings raised International Seaways from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 11th. Pareto Securities raised International Seaways from a "hold" rating to a "buy" rating and set a $64.00 price target for the company in a report on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft increased their price objective on International Seaways from $63.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, March 9th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $100.00 price objective on shares of International Seaways in a research report on Friday, May 8th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, International Seaways has a consensus rating of "Moderate Buy" and a consensus price target of $83.50.

International Seaways Trading Down 0.0%

NYSE:INSW opened at $84.57 on Monday. The stock has a fifty day moving average price of $76.29 and a two-hundred day moving average price of $62.97. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 7.70 and a beta of -0.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34. International Seaways Inc. has a 1 year low of $35.60 and a 1 year high of $92.66.

International Seaways (NYSE:INSW - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $1.03. The firm had revenue of $325.48 million during the quarter, compared to analysts' expectations of $279.34 million. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.International Seaways's revenue was up 77.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 earnings per share. As a group, sell-side analysts anticipate that International Seaways Inc. will post 14.99 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a $0.12 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. International Seaways's dividend payout ratio (DPR) is currently 4.37%.

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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