International Seaways, Inc. (NYSE:INSW) Shares Sold by Tidal Investments LLC

Tidal Investments LLC trimmed its stake in International Seaways, Inc. (NYSE:INSW - Free Report) by 46.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,960 shares of the transportation company's stock after selling 15,374 shares during the period. Tidal Investments LLC's holdings in International Seaways were worth $645,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Banque Transatlantique SA purchased a new position in International Seaways during the 4th quarter worth $29,000. Larson Financial Group LLC purchased a new position in International Seaways during the 4th quarter worth $37,000. Quarry LP increased its holdings in shares of International Seaways by 169.0% in the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company's stock valued at $49,000 after acquiring an additional 852 shares during the period. R Squared Ltd purchased a new position in shares of International Seaways in the 4th quarter valued at $59,000. Finally, KBC Group NV increased its holdings in shares of International Seaways by 60.2% in the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock valued at $62,000 after acquiring an additional 653 shares during the period. 67.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

International Seaways Stock Up 0.9%

INSW stock traded up $0.34 on Thursday, hitting $36.64. 438,541 shares of the company's stock were exchanged, compared to its average volume of 746,725. International Seaways, Inc. has a 12-month low of $27.20 and a 12-month high of $65.32. The firm has a 50 day moving average price of $34.43 and a two-hundred day moving average price of $36.32. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The stock has a market cap of $1.81 billion, a P/E ratio of 3.54 and a beta of -0.01.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly 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 company had revenue of $178.34 million during the quarter, compared to analysts' expectations of $176.49 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The firm's revenue was down 32.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.92 EPS. As a group, equities research analysts expect that International Seaways, Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be paid a $0.12 dividend. The ex-dividend date is Thursday, June 12th. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. International Seaways's dividend payout ratio is presently 7.42%.

Insider Activity at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $33.89, for a total value of $33,890.00. Following the completion of the sale, the senior vice president now owns 55,852 shares of the company's stock, valued at approximately $1,892,824.28. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Derek G. Solon sold 1,500 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.22, for a total transaction of $57,330.00. Following the transaction, the senior vice president now directly owns 55,893 shares of the company's stock, valued at approximately $2,136,230.46. This trade represents a 2.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,900 shares of company stock worth $513,716 in the last 90 days. Corporate insiders own 2.00% of the company's stock.

About International Seaways

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.