Marshall Wace LLP Sells 56,384 Shares of International Seaways, Inc. (NYSE:INSW)

Marshall Wace LLP lessened its holdings in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 79.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,032 shares of the transportation company's stock after selling 56,384 shares during the period. Marshall Wace LLP's holdings in International Seaways were worth $540,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INSW. Barclays PLC raised its stake in International Seaways by 206.3% during the third quarter. Barclays PLC now owns 259,393 shares of the transportation company's stock valued at $13,374,000 after buying an additional 174,695 shares during the last quarter. Franklin Resources Inc. raised its position in shares of International Seaways by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company's stock worth $2,428,000 after purchasing an additional 379 shares during the last quarter. Principal Financial Group Inc. boosted its stake in International Seaways by 27.3% in the 3rd quarter. Principal Financial Group Inc. now owns 28,583 shares of the transportation company's stock worth $1,474,000 after purchasing an additional 6,121 shares in the last quarter. Nisa Investment Advisors LLC grew its position in International Seaways by 1,677.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 110,945 shares of the transportation company's stock valued at $3,987,000 after purchasing an additional 104,704 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in International Seaways during the 4th quarter valued at about $735,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $34.66, for a total value of $69,320.00. Following the transaction, the chief executive officer now owns 179,557 shares of the company's stock, valued at $6,223,445.62. This trade represents a 1.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $33.89, for a total transaction of $33,890.00. Following the completion of the transaction, the senior vice president now owns 55,852 shares in the company, valued at $1,892,824.28. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,400 shares of company stock valued at $380,086. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. SEB Equity Research set a $50.00 target price on shares of International Seaways in a research note on Friday, January 24th. Jefferies Financial Group reiterated a "buy" rating and set a $48.00 target price on shares of International Seaways in a research note on Thursday. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, International Seaways currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

International Seaways Price Performance

INSW stock traded up $0.37 during trading on Thursday, hitting $36.71. 247,324 shares of the company's stock traded hands, compared to its average volume of 876,346. International Seaways, Inc. has a 52 week low of $27.20 and a 52 week high of $65.94. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 3.55 and a beta of -0.01. The business has a fifty day simple moving average of $33.26 and a 200 day simple moving average of $37.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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's revenue for the quarter was down 32.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.92 EPS. As a group, research analysts expect that International Seaways, Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Friday, March 14th. International Seaways's dividend payout ratio (DPR) is 5.72%.

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.