International Seaways Inc. (NYSE:INSW) Short Interest Down 28.8% in December

International Seaways Inc. (NYSE:INSW) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 1,553,738 shares, a decrease of 28.8% from the December 15th total of 2,183,593 shares. Based on an average daily trading volume, of 467,835 shares, the short-interest ratio is presently 3.3 days. Approximately 3.2% of the company’s stock are short sold. Approximately 3.2% of the company’s stock are short sold. Based on an average daily trading volume, of 467,835 shares, the short-interest ratio is presently 3.3 days.

International Seaways Price Performance

Shares of INSW traded up $0.62 during midday trading on Friday, reaching $56.40. The stock had a trading volume of 448,338 shares, compared to its average volume of 499,848. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market capitalization of $2.79 billion, a P/E ratio of 12.85 and a beta of -0.18. The firm’s 50 day moving average price is $51.47 and its 200-day moving average price is $46.94. International Seaways has a 52 week low of $27.20 and a 52 week high of $57.35.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, November 6th. The transportation company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.24. The business had revenue of $196.39 million during the quarter, compared to analyst estimates of $180.92 million. International Seaways had a return on equity of 10.13% and a net margin of 28.26%.The company’s revenue was down 12.8% compared to the same quarter last year. During the same period last year, the company posted $1.57 EPS. On average, analysts forecast that International Seaways will post 7.77 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.9%. International Seaways’s dividend payout ratio (DPR) is 10.93%.

Insider Buying and Selling

In related news, SVP Derek G. Solon sold 3,500 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $53.71, for a total value of $187,985.00. Following the completion of the transaction, the senior vice president owned 49,393 shares of the company’s stock, valued at approximately $2,652,898.03. This represents a 6.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $55.17, for a total transaction of $110,340.00. Following the sale, the chief executive officer directly owned 180,421 shares of the company’s stock, valued at $9,953,826.57. The trade was a 1.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,500 shares of company stock worth $1,732,605 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. lifted its stake in International Seaways by 99.5% in the third quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 378 shares during the last quarter. Founders Capital Management raised its holdings in shares of International Seaways by 37.5% during the 4th quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 300 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of International Seaways in the 3rd quarter valued at $53,000. EverSource Wealth Advisors LLC lifted its stake in shares of International Seaways by 601.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock valued at $55,000 after purchasing an additional 1,293 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in International Seaways in the third quarter worth $64,000. 67.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INSW has been the subject of a number of recent research reports. Pareto Securities downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a report on Wednesday, October 8th. Zacks Research cut International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Wall Street Zen lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $52.67.

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.