Readystate Asset Management LP Purchases Shares of 13,831 International Seaways Inc. (NYSE:INSW)

Readystate Asset Management LP acquired a new stake in International Seaways Inc. (NYSE:INSW - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,831 shares of the transportation company's stock, valued at approximately $459,000.

A number of other institutional investors have also modified their holdings of the company. Glenorchy Capital Ltd grew its stake in shares of International Seaways by 0.6% in the fourth quarter. Glenorchy Capital Ltd now owns 50,328 shares of the transportation company's stock valued at $1,809,000 after buying an additional 322 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in International Seaways by 2.8% during the 1st quarter. SummerHaven Investment Management LLC now owns 13,759 shares of the transportation company's stock worth $457,000 after purchasing an additional 370 shares in the last quarter. Arizona State Retirement System grew its stake in International Seaways by 3.9% during the 1st quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company's stock worth $398,000 after purchasing an additional 455 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in International Seaways by 30.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the transportation company's stock worth $88,000 after purchasing an additional 564 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in International Seaways by 105.1% during the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock worth $39,000 after purchasing an additional 596 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Stock Performance

Shares of International Seaways stock traded up $0.16 on Thursday, hitting $40.71. The stock had a trading volume of 448,769 shares, compared to its average volume of 549,228. International Seaways Inc. has a 52-week low of $27.20 and a 52-week high of $56.66. The company has a current ratio of 2.76, a quick ratio of 2.75 and a debt-to-equity ratio of 0.29. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 6.29 and a beta of 0.05. The company's 50 day moving average price is $38.40 and its 200 day moving average price is $36.55.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.59 by $0.21. The firm had revenue of $178.34 million during the quarter, compared to the consensus estimate of $176.49 million. International Seaways had a return on equity of 14.98% and a net margin of 37.39%. The firm's revenue was down 32.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.92 EPS. On average, research analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Thursday, June 12th. International Seaways's dividend payout ratio (DPR) is 7.42%.

Insider Transactions at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $38.62, for a total transaction of $77,240.00. Following the sale, the chief executive officer owned 192,771 shares in the company, valued at approximately $7,444,816.02. This represents a 1.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $37.00, for a total value of $37,000.00. Following the sale, the senior vice president owned 59,752 shares in the company, valued at $2,210,824. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,500 shares of company stock valued at $473,730. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

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

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.