Versor Investments LP Increases Stake in International Seaways, Inc. (NYSE:INSW)

Versor Investments LP increased its position in shares of International Seaways, Inc. (NYSE:INSW) by 51.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,990 shares of the transportation company’s stock after purchasing an additional 3,038 shares during the period. Versor Investments LP’s holdings in International Seaways were worth $323,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in INSW. Bfsg LLC boosted its stake in shares of International Seaways by 14.9% during the fourth quarter. Bfsg LLC now owns 2,748 shares of the transportation company’s stock valued at $99,000 after purchasing an additional 357 shares during the period. Franklin Resources Inc. increased its stake in International Seaways by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company’s stock worth $2,428,000 after buying an additional 379 shares during the period. KBC Group NV lifted its holdings in International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after buying an additional 428 shares in the last quarter. Cynosure Group LLC boosted its position in International Seaways by 6.6% in the 3rd quarter. Cynosure Group LLC now owns 7,171 shares of the transportation company’s stock valued at $370,000 after buying an additional 447 shares during the period. Finally, DMC Group LLC grew its stake in International Seaways by 9.9% in the 4th quarter. DMC Group LLC now owns 5,974 shares of the transportation company’s stock worth $215,000 after acquiring an additional 540 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $35.07, for a total value of $35,070.00. Following the completion of the sale, the senior vice president now directly owns 49,803 shares in the company, valued at approximately $1,746,591.21. This trade represents a 1.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 3,000 shares of company stock worth $108,060 over the last three months. Corporate insiders own 1.90% of the company’s stock.

International Seaways Stock Performance

INSW stock opened at $32.93 on Tuesday. International Seaways, Inc. has a one year low of $31.86 and a one year high of $65.94. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 3.18 and a beta of -0.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The firm has a 50-day simple moving average of $37.72 and a two-hundred day simple moving average of $42.96.

International Seaways Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 1.46%. International Seaways’s payout ratio is 5.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. SEB Equity Research set a $50.00 target price on International Seaways in a research report on Friday, January 24th. Jefferies Financial Group reissued a “buy” rating and issued a $58.00 price objective on shares of International Seaways in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $57.50.

International Seaways 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.