PEAK6 LLC Takes $1.03 Million Position in International Seaways Inc. $INSW

PEAK6 LLC acquired a new position in International Seaways Inc. (NYSE:INSW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 13,445 shares of the transportation company’s stock, valued at approximately $1,030,000.

Other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in International Seaways by 11.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company’s stock valued at $85,000 after purchasing an additional 118 shares during the period. GAMMA Investing LLC lifted its holdings in shares of International Seaways by 4.0% during the second quarter. GAMMA Investing LLC now owns 4,606 shares of the transportation company’s stock worth $353,000 after buying an additional 178 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of International Seaways by 2.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock worth $452,000 after buying an additional 200 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of International Seaways by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock valued at $380,000 after acquiring an additional 241 shares during the period. Finally, Guggenheim Capital LLC boosted its position in shares of International Seaways by 1.4% in the fourth quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company’s stock valued at $959,000 after acquiring an additional 275 shares during the period. 67.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $98.44, for a total value of $196,880.00. Following the sale, the chief executive officer directly owned 173,745 shares in the company, valued at $17,103,457.80. This represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $81.68, for a total value of $81,680.00. Following the transaction, the chief financial officer owned 101,984 shares of the company’s stock, valued at $8,330,053.12. This represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 5,000 shares of company stock worth $441,240 over the last quarter. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on INSW. Jefferies Financial Group raised their price objective on shares of International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Pareto Securities cut shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Weiss Ratings restated a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. Finally, BTIG Research boosted their price objective on shares of International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, International Seaways has a consensus rating of “Buy” and a consensus target price of $88.00.

International Seaways Stock Down 0.2%

Shares of INSW opened at $99.31 on Monday. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 6.35 and a beta of -0.13. The company has a quick ratio of 5.76, a current ratio of 5.94 and a debt-to-equity ratio of 0.27. International Seaways Inc. has a 12 month low of $42.26 and a 12 month high of $102.36. The company has a 50-day moving average price of $89.00 and a two-hundred day moving average price of $79.96.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, beating 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 company had revenue of $467.29 million for the quarter, compared to the consensus estimate of $406.38 million. During the same period in the previous year, the business earned $1.02 earnings per share. The company’s quarterly revenue was up 138.9% on a year-over-year basis. Equities analysts predict that International Seaways Inc. will post 15.89 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently declared 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 represents a $20.20 annualized dividend and a yield of 20.3%. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s payout ratio is presently 3.07%.

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.