International Seaways Inc. (INSW) Shares Sold by JPMorgan Chase & Co.
JPMorgan Chase & Co. decreased its position in International Seaways Inc. (NYSE:INSW) by 12.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,776 shares of the transportation company’s stock after selling 29,759 shares during the period. JPMorgan Chase & Co. owned approximately 0.71% of International Seaways worth $4,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Marshall Wace North America L.P. purchased a new position in International Seaways in the 2nd quarter worth $1,853,000. Russell Investments Group Ltd. raised its stake in International Seaways by 25.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 436,665 shares of the transportation company’s stock worth $9,463,000 after acquiring an additional 88,302 shares during the last quarter. Rhumbline Advisers raised its stake in International Seaways by 105.2% in the 2nd quarter. Rhumbline Advisers now owns 33,878 shares of the transportation company’s stock worth $734,000 after acquiring an additional 17,369 shares during the last quarter. Swiss National Bank purchased a new position in International Seaways in the 2nd quarter worth $527,000. Finally, Legal & General Group Plc raised its stake in International Seaways by 61.7% in the 2nd quarter. Legal & General Group Plc now owns 6,350 shares of the transportation company’s stock worth $138,000 after acquiring an additional 2,424 shares during the last quarter. Institutional investors own 86.29% of the company’s stock.
INSW has been the subject of a number of research analyst reports. J P Morgan Chase & Co initiated coverage on International Seaways in a research note on Tuesday, June 13th. They issued an “overweight” rating and a $30.00 target price for the company. Zacks Investment Research upgraded International Seaways from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Tuesday, August 8th.
TRADEMARK VIOLATION WARNING: This report was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another website, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The original version of this report can be viewed at https://www.thecerbatgem.com/2017/10/07/international-seaways-inc-insw-shares-sold-by-jpmorgan-chase-co.html.
International Seaways Inc. (INSW) opened at 20.19 on Friday. The firm’s 50 day moving average price is $19.38 and its 200-day moving average price is $19.38. International Seaways Inc. has a 1-year low of $9.00 and a 1-year high of $20.78. The stock’s market cap is $590.52 million.
International Seaways (NYSE:INSW) last announced its earnings results on Wednesday, August 9th. The transportation company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.55). International Seaways had a positive return on equity of 0.91% and a negative net margin of 31.22%. The business had revenue of $71.90 million for the quarter, compared to analyst estimates of $73.00 million. The company’s revenue for the quarter was down 30.3% compared to the same quarter last year. On average, equities analysts anticipate that International Seaways Inc. will post $0.95 earnings per share for the current year.
About International Seaways
International Seaways, Inc and its subsidiaries own and operate a fleet of oceangoing vessels. The Company’s oceangoing vessels engage in the transportation of crude oil and petroleum products in the International Flag trades. The Company’s segments are International Crude Tankers and International Product Carriers.
Want to see what other hedge funds are holding INSW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Seaways Inc. (NYSE:INSW).
Receive News & Stock Ratings for International Seaways Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Seaways Inc. and related stocks with our FREE daily email newsletter.