Citadel Advisors LLC Acquires New Holdings in International Seaways Inc. (INSW)
Citadel Advisors LLC acquired a new stake in shares of International Seaways Inc. (NYSE:INSW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,244 shares of the transportation company’s stock, valued at approximately $244,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc increased its position in shares of International Seaways by 61.7% during the second quarter. Legal & General Group Plc now owns 6,350 shares of the transportation company’s stock valued at $138,000 after buying an additional 2,424 shares during the period. Leisure Capital Management bought a new stake in shares of International Seaways during the second quarter valued at about $208,000. AJO LP bought a new stake in shares of International Seaways during the second quarter valued at about $414,000. Swiss National Bank bought a new stake in shares of International Seaways during the second quarter valued at about $527,000. Finally, New York State Common Retirement Fund increased its position in shares of International Seaways by 168.5% during the second quarter. New York State Common Retirement Fund now owns 31,546 shares of the transportation company’s stock valued at $684,000 after buying an additional 19,799 shares during the period. 86.29% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research cut International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th.
Shares of International Seaways Inc. (INSW) opened at 20.34 on Friday. International Seaways Inc. has a 12 month low of $9.00 and a 12 month high of $20.78. The stock’s 50 day moving average price is $19.54 and its 200 day moving average price is $19.54. The company’s market capitalization is $594.90 million.
International Seaways (NYSE:INSW) last posted its quarterly earnings data on Wednesday, August 9th. The transportation company reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.55). International Seaways had a negative net margin of 31.22% and a positive return on equity of 0.91%. The company had revenue of $71.90 million for the quarter, compared to analysts’ expectations of $73.00 million. The firm’s quarterly revenue was down 30.3% on a year-over-year basis. On average, analysts forecast that International Seaways Inc. will post $0.95 EPS for the current year.
International Seaways Profile
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.
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