Glenorchy Capital Ltd Invests $2.13 Million in International Seaways, Inc. (NYSE:INSW)

Glenorchy Capital Ltd acquired a new position in International Seaways, Inc. (NYSE:INSW - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 46,796 shares of the transportation company's stock, valued at approximately $2,128,000. International Seaways makes up approximately 0.8% of Glenorchy Capital Ltd's investment portfolio, making the stock its 18th biggest position. Glenorchy Capital Ltd owned 0.10% of International Seaways at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. U S Global Investors Inc. bought a new stake in shares of International Seaways in the 3rd quarter valued at $78,000. Counterpoint Mutual Funds LLC bought a new position in International Seaways during the third quarter valued at about $113,000. Peterson Wealth Services bought a new position in International Seaways during the fourth quarter worth about $203,000. Baker Ellis Asset Management LLC bought a new position in International Seaways during the third quarter worth about $220,000. Finally, SG Americas Securities LLC purchased a new stake in shares of International Seaways in the third quarter worth about $224,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Stifel Nicolaus lifted their price target on shares of International Seaways from $63.00 to $64.00 and gave the stock a "buy" rating in a research note on Friday. Jefferies Financial Group reaffirmed a "buy" rating and issued a $66.00 price target on shares of International Seaways in a research report on Thursday, February 29th. Finally, StockNews.com downgraded shares of International Seaways from a "buy" rating to a "hold" rating in a research report on Wednesday, April 17th.

International Seaways Stock Performance

Shares of INSW traded up $0.37 during trading hours on Tuesday, hitting $53.97. The stock had a trading volume of 484,756 shares, compared to its average volume of 532,160. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.37 and a current ratio of 2.38. The firm has a 50-day moving average price of $52.66 and a 200 day moving average price of $49.54. International Seaways, Inc. has a fifty-two week low of $34.77 and a fifty-two week high of $55.59. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 4.80 and a beta of -0.05.

International Seaways (NYSE:INSW - Get Free Report) last released its 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 net margin of 51.92% and a return on equity of 32.03%. The business had revenue of $250.73 million during the quarter, compared to analyst estimates of $239.36 million. As a group, research analysts anticipate that International Seaways, Inc. will post 9.42 EPS for the current year.

International Seaways Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $1.20 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $4.80 annualized dividend and a yield of 8.89%. International Seaways's dividend payout ratio (DPR) is 4.27%.

Insider Buying and Selling at International Seaways

In other news, CFO Jeffrey Pribor sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $54.23, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Douglas D. Wheat sold 3,846 shares of the business's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $51.22, for a total transaction of $196,992.12. Following the completion of the sale, the director now owns 26,056 shares in the company, valued at approximately $1,334,588.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The stock was 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 worth $3,073,978 over the last three months. Insiders own 2.00% of the company's stock.

International Seaways 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.

Want to see what other hedge funds are holding INSW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Seaways, Inc. (NYSE:INSW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.