International Seaways (NYSE:INSW) major shareholder Paulson & Co. Inc. purchased 357,479 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The stock was purchased at an average price of $18.34 per share, with a total value of $6,556,164.86. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
INSW stock opened at $18.24 on Wednesday. The company has a market capitalization of $554.45, a PE ratio of -5.00 and a beta of -0.14. International Seaways has a 52 week low of $15.23 and a 52 week high of $23.43. The company has a quick ratio of 2.72, a current ratio of 2.79 and a debt-to-equity ratio of 0.49.
International Seaways (NYSE:INSW) last posted its quarterly earnings results on Thursday, March 8th. The transportation company reported ($0.33) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.03. International Seaways had a negative return on equity of 0.11% and a negative net margin of 36.57%. The business had revenue of $69.40 million during the quarter, compared to the consensus estimate of $66.17 million. During the same period last year, the firm earned ($1.98) earnings per share. The company’s revenue for the quarter was down 19.1% compared to the same quarter last year. analysts anticipate that International Seaways will post -1.08 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mangrove Partners lifted its holdings in International Seaways by 93.4% in the fourth quarter. Mangrove Partners now owns 777,561 shares of the transportation company’s stock worth $14,354,000 after acquiring an additional 375,417 shares during the last quarter. Deutsche Bank AG lifted its holdings in International Seaways by 70.3% in the fourth quarter. Deutsche Bank AG now owns 66,735 shares of the transportation company’s stock worth $1,231,000 after acquiring an additional 27,559 shares during the last quarter. Thrivent Financial For Lutherans bought a new position in International Seaways in the fourth quarter worth about $1,076,000. Donald Smith & CO. Inc. lifted its holdings in International Seaways by 184.2% in the fourth quarter. Donald Smith & CO. Inc. now owns 2,407,644 shares of the transportation company’s stock worth $44,445,000 after acquiring an additional 1,560,422 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in International Seaways by 17.9% in the fourth quarter. Alliancebernstein L.P. now owns 51,265 shares of the transportation company’s stock worth $946,000 after acquiring an additional 7,800 shares during the last quarter. 85.35% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on INSW shares. Pareto Securities started coverage on International Seaways in a research note on Tuesday, January 16th. They issued a “buy” rating for the company. Zacks Investment Research upgraded International Seaways from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, ValuEngine downgraded International Seaways from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd.
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About International Seaways
International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the International Flag trades. It operates through two segments, Crude Tankers and Product Carriers. As of March 8, 2018, the company owned or operated a fleet of 53 vessels, including 1 ultra large crude carrier, 9 very large crude carriers, 2 Suezmaxes, 8 Aframaxes, 12 Panamaxes, and 15 medium range tankers.
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