Squarepoint Ops LLC Buys 145,256 Shares of International Seaways Inc. $INSW

Squarepoint Ops LLC boosted its stake in International Seaways Inc. (NYSE:INSW) by 1,243.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,942 shares of the transportation company’s stock after purchasing an additional 145,256 shares during the quarter. Squarepoint Ops LLC owned about 0.32% of International Seaways worth $12,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of INSW. Quantbot Technologies LP purchased a new position in International Seaways in the 2nd quarter worth approximately $28,000. Leonteq Securities AG purchased a new stake in shares of International Seaways during the 4th quarter valued at $44,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of International Seaways during the 4th quarter valued at $46,000. Rockefeller Capital Management L.P. lifted its holdings in shares of International Seaways by 583.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after acquiring an additional 822 shares during the last quarter. Finally, Allworth Financial LP bought a new stake in shares of International Seaways during the 2nd quarter worth $48,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on INSW shares. Jefferies Financial Group upped their target price on shares of International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Zacks Research downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $107.00 price target on shares of International Seaways in a research note on Tuesday, September 1st. Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, BTIG Research increased their price objective on International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, International Seaways presently has a consensus rating of “Moderate Buy” and an average target price of $94.75.

International Seaways Trading Up 0.8%

Shares of INSW stock opened at $104.61 on Thursday. The business has a 50-day moving average of $93.73 and a 200 day moving average of $83.48. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76. International Seaways Inc. has a 1-year low of $42.26 and a 1-year high of $106.73. The stock has a market capitalization of $5.18 billion, a PE ratio of 6.69, a P/E/G ratio of 0.27 and a beta of -0.13.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, topping analysts’ consensus estimates of $5.55 by $0.36. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.The business had revenue of $467.29 million for the quarter, compared to analysts’ expectations of $406.38 million. During the same period in the previous year, the firm earned $1.02 EPS. The business’s quarterly revenue was up 138.9% on a year-over-year basis. As a group, sell-side analysts anticipate that International Seaways Inc. will post 16.09 earnings per share for the current year.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a $5.05 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 annualized dividend and a dividend yield of 19.3%. International Seaways’s payout ratio is presently 3.07%.

Insider Buying and Selling at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.68, for a total transaction of $81,680.00. Following the completion of the sale, the chief financial officer directly owned 101,984 shares in the company, valued at $8,330,053.12. This represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Lois Zabrocky sold 2,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $98.44, for a total transaction of $196,880.00. Following the sale, the chief executive officer directly owned 173,745 shares of the company’s stock, valued at $17,103,457.80. The trade was a 1.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 5,000 shares of company stock worth $441,240. 1.70% of the stock is owned by insiders.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.