Crestline Management LP Has $434,000 Stake in International Seaways, Inc. (NYSE:INSW)

Crestline Management LP lowered its position in International Seaways, Inc. (NYSE:INSW) by 90.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,067 shares of the transportation company’s stock after selling 115,488 shares during the period. Crestline Management LP’s holdings in International Seaways were worth $434,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC acquired a new position in shares of International Seaways during the 4th quarter worth $14,269,000. Vanguard Group Inc. increased its position in International Seaways by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company’s stock worth $171,043,000 after buying an additional 369,145 shares during the last quarter. Clearbridge Investments LLC bought a new position in International Seaways during the fourth quarter valued at about $11,374,000. Empowered Funds LLC lifted its position in shares of International Seaways by 470.8% in the fourth quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company’s stock worth $9,813,000 after buying an additional 225,196 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of International Seaways by 685.6% during the 4th quarter. Principal Financial Group Inc. now owns 224,544 shares of the transportation company’s stock worth $8,070,000 after acquiring an additional 195,961 shares in the last quarter. Institutional investors own 67.29% of the company’s stock.

Insider Activity

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $34.66, for a total value of $69,320.00. Following the sale, the chief executive officer now owns 179,557 shares of the company’s stock, valued at $6,223,445.62. The trade was a 1.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $34.01, for a total transaction of $34,010.00. Following the transaction, the senior vice president now directly owns 61,752 shares of the company’s stock, valued at $2,100,185.52. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,400 shares of company stock valued at $380,086. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

INSW has been the topic of a number of recent analyst reports. SEB Equity Research set a $50.00 price objective on International Seaways in a research note on Friday, January 24th. Jefferies Financial Group restated a “buy” rating and issued a $48.00 price objective on shares of International Seaways in a research note on Thursday.

International Seaways Price Performance

NYSE INSW opened at $37.78 on Friday. The stock has a 50-day simple moving average of $33.40 and a 200 day simple moving average of $36.86. International Seaways, Inc. has a twelve month low of $27.20 and a twelve month high of $65.94. The stock has a market capitalization of $1.86 billion, a PE ratio of 3.65 and a beta of -0.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 EPS 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 company had revenue of $178.34 million during the quarter, compared to analyst estimates of $176.49 million. During the same period in the previous year, the company earned $2.92 earnings per share. The company’s quarterly revenue was down 32.9% compared to the same quarter last year. Research analysts anticipate that International Seaways, Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, June 12th. This represents a $0.48 annualized dividend and a dividend yield of 1.27%. International Seaways’s payout ratio is 5.72%.

International Seaways Company Profile

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.