International Seaways Inc. $INSW Shares Sold by Mirabella Financial Services LLP

Mirabella Financial Services LLP lessened its holdings in shares of International Seaways Inc. (NYSE:INSW) by 25.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 120,000 shares of the transportation company’s stock after selling 41,800 shares during the quarter. Mirabella Financial Services LLP’s holdings in International Seaways were worth $4,378,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its holdings 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 worth $68,000 after acquiring an additional 289 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of International Seaways by 3.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 14,185 shares of the transportation company’s stock valued at $517,000 after buying an additional 426 shares during the period. Rossby Financial LCC lifted its holdings in shares of International Seaways by 3.6% during the 2nd quarter. Rossby Financial LCC now owns 15,386 shares of the transportation company’s stock valued at $561,000 after acquiring an additional 530 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in International Seaways by 6.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,044 shares of the transportation company’s stock worth $330,000 after purchasing an additional 585 shares during the period. Finally, Lesa Sroufe & Co raised its position in International Seaways by 1.1% in the second quarter. Lesa Sroufe & Co now owns 58,161 shares of the transportation company’s stock valued at $2,122,000 after purchasing an additional 608 shares during the period. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other International Seaways news, CAO James D. Small III sold 20,000 shares of International Seaways stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $53.60, for a total transaction of $1,072,000.00. Following the transaction, the chief accounting officer owned 49,292 shares of the company’s stock, valued at $2,642,051.20. The trade was a 28.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $53.58, for a total value of $53,580.00. Following the completion of the transaction, the chief financial officer owned 71,734 shares in the company, valued at $3,843,507.72. This represents a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,500 shares of company stock worth $1,699,875 over the last three months. 2.00% of the stock is owned by insiders.

International Seaways Price Performance

Shares of NYSE:INSW opened at $51.64 on Friday. The company has a market capitalization of $2.55 billion, a PE ratio of 11.76 and a beta of -0.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a fifty day moving average of $49.56 and a 200-day moving average of $44.21. International Seaways Inc. has a one year low of $27.20 and a one year high of $55.18.

International Seaways (NYSE:INSW) last announced its earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) EPS for the quarter. International Seaways had a net margin of 28.26% and a return on equity of 10.13%. The company had revenue of $84.82 million for the quarter. As a group, equities analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, December 9th. International Seaways’s dividend payout ratio (DPR) is 10.93%.

Wall Street Analyst Weigh In

INSW has been the topic of a number of research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a research report on Wednesday, October 8th. Pareto Securities lowered International Seaways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, International Seaways currently has a consensus rating of “Moderate Buy” and an average target price of $52.67.

International Seaways Company 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.