Short Interest in International Seaways Inc. (NYSE:INSW) Declines By 28.8%

International Seaways Inc. (NYSE:INSW) was the recipient of a large 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. Approximately 3.2% of the company’s stock are short sold. Based on an average daily trading volume, of 467,835 shares, the days-to-cover ratio is presently 3.3 days. Based on an average daily trading volume, of 467,835 shares, the days-to-cover ratio is presently 3.3 days. Approximately 3.2% of the company’s stock are short sold.

Analyst Ratings Changes

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

International Seaways Stock Performance

INSW stock traded up $0.62 during midday trading on Monday, reaching $56.40. 448,338 shares of the company’s stock traded hands, compared to its average volume of 457,126. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26. International Seaways has a 52-week low of $27.20 and a 52-week high of $57.35. The stock has a market cap of $2.79 billion, a P/E ratio of 12.85 and a beta of -0.18. The stock’s 50-day moving average is $51.53 and its 200 day moving average is $47.12.

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

International Seaways Announces Dividend

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

Insider Buying and Selling at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $55.68, for a total transaction of $55,680.00. Following the completion of the transaction, the chief financial officer directly owned 79,073 shares of the company’s stock, valued at $4,402,784.64. This trade represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Derek G. Solon sold 3,500 shares of International Seaways stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $53.71, for a total transaction of $187,985.00. Following the transaction, the senior vice president owned 49,393 shares of the company’s stock, valued at $2,652,898.03. The trade was a 6.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,500 shares of company stock valued at $1,732,605 in the last quarter. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System lifted its holdings in International Seaways by 1.7% during the third quarter. Arizona State Retirement System now owns 12,409 shares of the transportation company’s stock valued at $572,000 after purchasing an additional 206 shares in the last quarter. Evergreen Capital Management LLC raised its position in shares of International Seaways by 2.9% during the 3rd quarter. Evergreen Capital Management LLC now owns 9,832 shares of the transportation company’s stock valued at $453,000 after purchasing an additional 274 shares during the period. Blue Trust Inc. lifted its stake in shares of International Seaways by 18.3% during the 2nd quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock valued at $68,000 after buying an additional 289 shares in the last quarter. Founders Capital Management lifted its stake 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 buying an additional 300 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in International Seaways by 8.6% in the 4th quarter. GAMMA Investing LLC now owns 4,367 shares of the transportation company’s stock worth $212,000 after buying an additional 344 shares during the period. 67.29% of the stock is currently owned by institutional investors.

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.