Lighthouse Investment Partners LLC Sells 69,333 Shares of International Seaways, Inc. (NYSE:INSW)

Lighthouse Investment Partners LLC decreased its holdings in International Seaways, Inc. (NYSE:INSW) by 72.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 26,122 shares of the transportation company’s stock after selling 69,333 shares during the period. Lighthouse Investment Partners LLC owned approximately 0.05% of International Seaways worth $939,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of INSW. Banque Transatlantique SA bought a new position in shares of International Seaways in the 4th quarter valued at $29,000. Larson Financial Group LLC acquired a new stake in shares of International Seaways during the 4th quarter valued at $37,000. Quarry LP boosted its holdings 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 acquiring an additional 852 shares in the last quarter. R Squared Ltd acquired a new stake in shares of International Seaways during the 4th quarter valued at $59,000. Finally, KBC Group NV boosted its holdings 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 acquiring an additional 653 shares in the last quarter. Institutional investors own 67.29% of the company’s stock.

Wall Street Analysts Forecast Growth

INSW has been the topic of several recent research reports. 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. SEB Equity Research set a $50.00 price objective on International Seaways in a report on Friday, January 24th.

Insider Buying and Selling

In other news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $33.89, for a total value of $33,890.00. Following the completion of the sale, the senior vice president now directly owns 55,852 shares of the company’s stock, valued at $1,892,824.28. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Derek G. Solon sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $38.22, for a total value of $57,330.00. Following the completion of the sale, the senior vice president now directly owns 55,893 shares of the company’s stock, valued at approximately $2,136,230.46. This trade represents a 2.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,900 shares of company stock valued at $437,416. 1.90% of the stock is owned by company insiders.

International Seaways Stock Down 0.7%

Shares of NYSE:INSW opened at $38.45 on Thursday. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 3.71 and a beta of -0.01. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The business’s 50-day moving average is $33.63 and its 200-day moving average is $36.77. International Seaways, Inc. has a 1 year low of $27.20 and a 1 year high of $65.94.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, topping 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 had revenue of $178.34 million for the quarter, compared to the consensus estimate of $176.49 million. During the same period in the prior year, the business earned $2.92 EPS. The firm’s revenue for the quarter was down 32.9% on a year-over-year basis. Equities research analysts predict that International Seaways, Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The company also recently declared 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. This represents a $0.48 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, June 12th. International Seaways’s dividend payout ratio (DPR) is currently 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.