Bridgeway Capital Management LLC Has $20.13 Million Stock Position in International Seaways Inc. $INSW

Bridgeway Capital Management LLC boosted its position in shares of International Seaways Inc. (NYSE:INSW) by 7.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 414,688 shares of the transportation company’s stock after purchasing an additional 27,818 shares during the period. Bridgeway Capital Management LLC’s holdings in International Seaways were worth $20,133,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. First Horizon Corp boosted its position in International Seaways by 121.6% during the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 377 shares during the last quarter. Leonteq Securities AG acquired a new stake in International Seaways during the fourth quarter valued at $44,000. Founders Capital Management boosted its position in International Seaways by 37.5% during the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 300 shares during the last quarter. Advisory Services Network LLC acquired a new stake in International Seaways during the third quarter valued at $53,000. Finally, Sunbelt Securities Inc. acquired a new stake in International Seaways during the third quarter valued at $64,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Lois K. Zabrocky sold 25,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $88.08, for a total transaction of $2,202,000.00. Following the completion of the transaction, the chief executive officer owned 181,745 shares of the company’s stock, valued at approximately $16,008,099.60. The trade was a 12.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William F. Nugent sold 6,830 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $85.23, for a total value of $582,120.90. Following the transaction, the senior vice president directly owned 49,169 shares of the company’s stock, valued at $4,190,673.87. This represents a 12.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 45,530 shares of company stock worth $3,923,635 over the last quarter. 1.70% of the stock is currently owned by company insiders.

International Seaways Price Performance

Shares of NYSE:INSW opened at $81.51 on Thursday. International Seaways Inc. has a fifty-two week low of $36.03 and a fifty-two week high of $92.66. The business has a 50-day moving average of $81.02 and a two-hundred day moving average of $67.67. The stock has a market capitalization of $4.04 billion, a P/E ratio of 7.42 and a beta of -0.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $1.03. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The company had revenue of $325.48 million during the quarter, compared to analysts’ expectations of $279.34 million. During the same quarter in the previous year, the firm earned $0.80 earnings per share. The business’s quarterly revenue was up 77.5% compared to the same quarter last year. On average, equities research analysts predict that International Seaways Inc. will post 14.99 EPS for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, June 12th. International Seaways’s payout ratio is currently 4.37%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $100.00 price target on shares of International Seaways in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft boosted their price target on International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Finally, Benchmark reaffirmed a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $83.50.

International Seaways Company Profile

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.