International Seaways, Inc. (NYSE:INSW) Short Interest Update

International Seaways, Inc. (NYSE:INSW - Get Free Report) was the recipient of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 1,000,000 shares, a decrease of 18.7% from the February 29th total of 1,230,000 shares. Based on an average daily trading volume, of 547,500 shares, the days-to-cover ratio is presently 1.8 days.

International Seaways Price Performance

INSW stock traded up $0.71 during trading on Friday, reaching $53.20. The company's stock had a trading volume of 494,214 shares, compared to its average volume of 554,166. International Seaways has a 1 year low of $34.77 and a 1 year high of $54.95. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $2.60 billion, a P/E ratio of 4.73 and a beta of -0.05. The company's fifty day moving average is $52.42 and its 200-day moving average is $48.33.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.10. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. The business had revenue of $250.73 million during the quarter, compared to analyst estimates of $239.36 million. On average, research analysts expect that International Seaways will post 9.36 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 dividend on an annualized basis and a yield of 9.02%. International Seaways's payout ratio is presently 4.27%.

Analyst Ratings Changes

INSW has been the subject of several analyst reports. Jefferies Financial Group restated a "buy" rating and issued a $66.00 price objective on shares of International Seaways in a research note on Thursday, February 29th. StockNews.com lowered International Seaways from a "buy" rating to a "hold" rating in a research note on Friday.

Insider Activity

In other news, Director Douglas D. Wheat sold 3,846 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $51.22, for a total transaction of $196,992.12. Following the transaction, the director now directly owns 26,056 shares of the company's stock, valued at approximately $1,334,588.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Douglas D. Wheat sold 3,846 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $51.22, for a total transaction of $196,992.12. Following the transaction, the director now directly owns 26,056 shares of the company's stock, valued at approximately $1,334,588.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $54.23, for a total value of $54,230.00. Following the transaction, the chief financial officer now directly owns 75,927 shares in the company, valued at $4,117,521.21. The disclosure for this sale can be found here. Insiders have sold 58,846 shares of company stock valued at $3,067,588 in the last ninety days. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On International Seaways

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC purchased a new position in shares of International Seaways during the second quarter valued at about $17,047,000. Two Sigma Advisers LP grew its position in shares of International Seaways by 2,140.5% during the fourth quarter. Two Sigma Advisers LP now owns 485,049 shares of the transportation company's stock valued at $17,957,000 after purchasing an additional 463,400 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of International Seaways during the fourth quarter valued at about $13,907,000. Frontier Capital Management Co. LLC purchased a new position in shares of International Seaways during the first quarter valued at about $13,924,000. Finally, Donald Smith & CO. Inc. grew its position in shares of International Seaways by 24.6% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,613,803 shares of the transportation company's stock valued at $73,396,000 after purchasing an additional 318,962 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company's stock.

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.