Lighthouse Investment Partners LLC Has $3.61 Million Holdings in International Seaways, Inc. (NYSE:INSW)

Lighthouse Investment Partners LLC boosted its stake in International Seaways, Inc. (NYSE:INSW) by 74.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,014 shares of the transportation company’s stock after buying an additional 26,018 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in International Seaways were worth $3,608,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of International Seaways by 20.5% in the 4th quarter. Principal Financial Group Inc. now owns 22,591 shares of the transportation company’s stock valued at $1,027,000 after purchasing an additional 3,844 shares in the last quarter. BTG Pactual Global Asset Management Ltd acquired a new position in International Seaways in the fourth quarter valued at about $709,000. Frontier Capital Management Co. LLC boosted its position in International Seaways by 20.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock valued at $36,869,000 after buying an additional 139,569 shares in the last quarter. GeoSphere Capital Management LLC bought a new stake in International Seaways during the fourth quarter worth about $2,501,000. Finally, Cim LLC acquired a new stake in shares of International Seaways during the fourth quarter worth approximately $192,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Price Performance

Shares of INSW stock opened at $51.82 on Friday. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 4.84 and a beta of -0.07. International Seaways, Inc. has a 12 month low of $40.68 and a 12 month high of $65.94. The company has a quick ratio of 3.87, a current ratio of 3.89 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average price of $51.36 and a 200 day moving average price of $55.27.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The business had revenue of $257.40 million during the quarter, compared to the consensus estimate of $256.13 million. During the same period in the previous year, the business posted $3.12 earnings per share. International Seaways’s revenue was down 11.9% compared to the same quarter last year. Research analysts expect that International Seaways, Inc. will post 9.51 EPS for the current year.

International Seaways Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.93%. International Seaways’s payout ratio is currently 4.49%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on INSW shares. Stifel Nicolaus increased their price target on International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Jefferies Financial Group restated a “buy” rating and set a $66.00 target price on shares of International Seaways in a report on Wednesday, August 7th. Finally, StockNews.com cut International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, International Seaways has a consensus rating of “Moderate Buy” and a consensus target price of $64.75.

Insider Activity

In other International Seaways news, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.17, for a total value of $245,850.00. Following the sale, the director now directly owns 16,109 shares in the company, valued at $792,079.53. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other International Seaways news, Director Alexandra Kate Blankenship sold 5,000 shares of International Seaways stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.17, for a total value of $245,850.00. Following the transaction, the director now owns 16,109 shares of the company’s stock, valued at $792,079.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $50.30, for a total transaction of $100,600.00. Following the sale, the chief executive officer now directly owns 155,475 shares of the company’s stock, valued at approximately $7,820,392.50. The disclosure for this sale can be found here. Insiders sold a total of 13,000 shares of company stock valued at $660,990 in the last ninety days. 1.90% of the stock is owned by insiders.

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.