Lighthouse Investment Partners LLC Trims Position in International Seaways, Inc. (NYSE:INSW)

Lighthouse Investment Partners LLC trimmed its position in International Seaways, Inc. (NYSE:INSW - Free Report) by 72.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,122 shares of the transportation company's stock after selling 69,333 shares during the period. Lighthouse Investment Partners LLC owned 0.05% of International Seaways worth $939,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Banque Transatlantique SA bought a new stake in shares of International Seaways during the 4th quarter worth $29,000. Larson Financial Group LLC purchased a new position in shares of International Seaways in the fourth quarter valued at about $37,000. Quarry LP boosted its stake in shares of International Seaways by 169.0% during the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company's stock valued at $49,000 after purchasing an additional 852 shares in the last quarter. R Squared Ltd bought a new stake in shares of International Seaways during the 4th quarter valued at about $59,000. Finally, KBC Group NV boosted its stake in shares of International Seaways by 60.2% during the 4th 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 in the last quarter. 67.29% of the stock is owned by institutional investors.

Insider Activity at International Seaways

In other International Seaways news, SVP Derek G. Solon sold 1,500 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $38.22, for a total transaction of $57,330.00. Following the completion of the transaction, the senior vice president now owns 55,893 shares in the company, valued at $2,136,230.46. This trade represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Monday, March 17th. The shares were 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 in the company, valued at approximately $6,223,445.62. This represents a 1.10% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,900 shares of company stock valued at $513,716. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. SEB Equity Research set a $50.00 price objective on shares of International Seaways in a research note on Friday, January 24th. Jefferies Financial Group reissued a "buy" rating and set a $48.00 price objective on shares of International Seaways in a report on Thursday, May 8th.

International Seaways Stock Performance

INSW stock traded down $0.51 during midday trading on Tuesday, reaching $38.28. 72,574 shares of the company's stock traded hands, compared to its average volume of 741,958. International Seaways, Inc. has a 52-week low of $27.20 and a 52-week high of $65.94. The stock has a market cap of $1.89 billion, a P/E ratio of 3.70 and a beta of -0.01. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The stock's 50-day moving average is $33.96 and its 200 day moving average is $36.57.

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

International Seaways Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, June 12th. This represents a $0.48 annualized dividend and a yield of 1.25%. International Seaways's payout ratio is 7.42%.

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.