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

Squarepoint Ops LLC grew its holdings in International Seaways Inc. (NYSE:INSW) by 1,243.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 156,942 shares of the transportation company’s stock after acquiring an additional 145,256 shares during the period. Squarepoint Ops LLC’s holdings in International Seaways were worth $12,020,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in shares of International Seaways during the second quarter valued at approximately $28,000. Leonteq Securities AG purchased a new stake in International Seaways in the fourth quarter worth $44,000. Garton & Associates Financial Advisors LLC purchased a new stake in International Seaways in the fourth quarter worth $46,000. Rockefeller Capital Management L.P. boosted its holdings in International Seaways by 583.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 822 shares in the last quarter. Finally, Allworth Financial LP bought a new stake in International Seaways in the second quarter valued at $48,000. 67.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer 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 at this hyperlink. Also, CEO Lois Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $98.44, for a total value of $196,880.00. Following the transaction, the chief executive officer directly owned 173,745 shares of the company’s stock, valued at approximately $17,103,457.80. This trade represents a 1.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 5,000 shares of company stock worth $441,240. Insiders own 1.70% of the company’s stock.

International Seaways Trading Up 0.8%

Shares of NYSE INSW opened at $104.61 on Thursday. International Seaways Inc. has a 1 year low of $42.26 and a 1 year high of $106.73. The stock has a market cap of $5.18 billion, a P/E ratio of 6.69, a price-to-earnings-growth ratio of 0.27 and a beta of -0.13. The firm 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 (NYSE:INSW) last announced its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The business had revenue of $467.29 million for the quarter, compared to analysts’ expectations of $406.38 million. During the same quarter in the prior year, the company earned $1.02 earnings per share. The business’s revenue was up 138.9% compared to the same quarter last year. As a group, sell-side analysts expect that International Seaways Inc. will post 16.09 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. Stockholders of record on Thursday, September 10th will be given a $5.05 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $20.20 dividend on an annualized basis and a dividend yield of 19.3%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s payout ratio is presently 3.07%.

Analysts Set New Price Targets

INSW has been the subject of several research reports. Pareto Securities lowered shares of International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $107.00 target price on shares of International Seaways in a research report on Tuesday, September 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. BTIG Research increased their price target on shares of International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Finally, Zacks Research lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, August 24th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, International Seaways presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.75.

About International Seaways

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.