EntryPoint Capital LLC Acquires Shares of 6,090 International Seaways, Inc. (NYSE:INSW)

EntryPoint Capital LLC bought a new stake in International Seaways, Inc. (NYSE:INSW) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 6,090 shares of the transportation company’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds also recently made changes to their positions in INSW. Geode Capital Management LLC raised its holdings in International Seaways by 4.3% in the third quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock valued at $48,650,000 after acquiring an additional 38,871 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of International Seaways by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock worth $22,205,000 after purchasing an additional 32,825 shares during the last quarter. Barclays PLC raised its stake in shares of International Seaways by 206.3% in the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock valued at $13,374,000 after purchasing an additional 174,695 shares in the last quarter. FMR LLC lifted its position in shares of International Seaways by 221.0% during the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after purchasing an additional 414,610 shares during the last quarter. Finally, PEAK6 Investments LLC bought a new stake in International Seaways in the third quarter valued at about $682,000. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $34.66, for a total value of $69,320.00. Following the completion of the transaction, the chief executive officer now directly owns 179,557 shares of the company’s stock, valued at $6,223,445.62. This represents a 1.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were 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 owns 49,803 shares in the company, valued at approximately $1,746,591.21. This represents a 1.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,400 shares of company stock valued at $324,296 over the last three months. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on INSW shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $58.00 target price on shares of International Seaways in a report on Thursday, February 27th. SEB Equity Research set a $50.00 price objective on International Seaways in a research note on Friday, January 24th. 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $57.50.

International Seaways Stock Up 0.9 %

NYSE:INSW opened at $33.16 on Friday. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $36.28 and a 200-day moving average of $40.72. The firm has a market capitalization of $1.63 billion, a PE ratio of 3.20 and a beta of -0.17. International Seaways, Inc. has a 52 week low of $31.70 and a 52 week high of $65.94.

International Seaways Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 1.45%. International Seaways’s payout ratio is currently 5.72%.

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 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.