International Seaways Inc. $INSW Shares Sold by Private Management Group Inc.

Private Management Group Inc. decreased its position in shares of International Seaways Inc. (NYSE:INSW) by 32.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 120,995 shares of the transportation company’s stock after selling 57,414 shares during the period. Private Management Group Inc. owned approximately 0.24% of International Seaways worth $13,326,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in INSW. Root Financial Partners LLC bought a new stake in shares of International Seaways in the 3rd quarter worth about $33,000. Quantbot Technologies LP bought a new position in International Seaways during the 2nd quarter valued at about $28,000. Mather Group LLC. grew its holdings in International Seaways by 100.0% during the 3rd quarter. Mather Group LLC. now owns 400 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 200 shares during the last quarter. Reyes Financial Architecture Inc. bought a new position in International Seaways during the 3rd quarter valued at about $56,000. Finally, Allworth Financial LP purchased a new stake in International Seaways in the 2nd quarter worth about $48,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

INSW has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $107.00 price objective on shares of International Seaways in a research note on Tuesday, September 1st. Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a research note on Saturday. B. Riley Financial upped their target price on International Seaways from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, October 5th. BTIG Research increased their price target on International Seaways from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Finally, Weiss Ratings raised International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $109.80.

Insider Transactions at International Seaways

In other news, major shareholder Finance Ltd Famatown sold 102,000 shares of International Seaways stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $111.82, for a total transaction of $11,405,640.00. Following the completion of the sale, the insider owned 6,932,458 shares of the company’s stock, valued at approximately $775,187,453.56. The trade was a 1.45% decrease in their ownership of the stock. The transaction 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 International Seaways stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $114.23, for a total transaction of $228,460.00. Following the sale, the chief executive officer directly owned 169,745 shares of the company’s stock, valued at $19,389,971.35. This represents a 1.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 655,028 shares of company stock worth $76,362,341 over the last 90 days. Insiders own 1.70% of the company’s stock.

International Seaways Stock Down 1.9%

Shares of INSW opened at $96.15 on Tuesday. The firm has a fifty day moving average price of $108.63 and a 200-day moving average price of $86.77. The company has a current ratio of 5.94, a quick ratio of 5.76 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $4.76 billion, a P/E ratio of 7.41, a P/E/G ratio of 0.26 and a beta of -0.10. International Seaways Inc. has a 12-month low of $46.09 and a 12-month high of $126.27.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Thursday, November 5th. The transportation company reported $5.84 EPS for the quarter, missing the consensus estimate of $6.09 by ($0.25). International Seaways had a return on equity of 31.75% and a net margin of 61.98%. The company had revenue of $483.20 million during the quarter, compared to analysts’ expectations of $349.50 million. During the same period in the prior year, the business earned $1.15 EPS. The company’s quarterly revenue was up 146.0% on a year-over-year basis. Equities research analysts expect that International Seaways Inc. will post 22.29 earnings per share for the current year.

International Seaways Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 23rd. Shareholders of record on Wednesday, December 9th will be given a $5.05 dividend. This represents a $20.20 annualized dividend and a yield of 21.0%. The ex-dividend date of this dividend is Wednesday, December 9th. International Seaways’s payout ratio is 95.64%.

International Seaways Profile

International Seaways, Inc is an international owner and operator of oceangoing tanker vessels. The company transports crude oil and refined petroleum products for energy companies and other customers.

Its fleet includes crude-oil tankers and product carriers that serve global shipping routes, connecting oil-producing regions with refineries and end markets. International Seaways also uses commercial arrangements such as vessel pools and charter contracts to market its ships.

The company became an independent publicly traded business in 2016 after being spun off from Overseas Shipholding Group.