Sei Investments Co. Reduces Position in International Seaways Inc. $INSW

Sei Investments Co. trimmed its holdings in International Seaways Inc. (NYSE:INSW) by 29.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 37,958 shares of the transportation company’s stock after selling 15,943 shares during the period. Sei Investments Co.’s holdings in International Seaways were worth $2,766,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. First Horizon Corp boosted its holdings in shares of International Seaways by 121.6% during the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 377 shares during the last quarter. Leonteq Securities AG purchased a new position in shares of International Seaways during the fourth quarter valued at approximately $44,000. Garton & Associates Financial Advisors LLC bought a new position in International Seaways during the fourth quarter valued at approximately $46,000. Rockefeller Capital Management L.P. lifted its position in International Seaways by 583.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 822 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in International Seaways by 85.0% in the first quarter. Parallel Advisors LLC now owns 1,099 shares of the transportation company’s stock worth $80,000 after purchasing an additional 505 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

International Seaways Price Performance

Shares of NYSE:INSW opened at $91.99 on Friday. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $4.55 billion, a PE ratio of 8.38 and a beta of -0.13. The firm’s 50 day moving average price is $85.93 and its 200-day moving average price is $77.16. International Seaways Inc. has a twelve month low of $41.20 and a twelve month high of $98.23.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $1.03. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The company had revenue of $325.48 million during the quarter, compared to analyst estimates of $279.34 million. During the same period in the previous year, the business posted $0.80 earnings per share. The firm’s quarterly revenue was up 77.5% compared to the same quarter last year. Equities research analysts expect that International Seaways Inc. will post 15.62 EPS for the current year.

Insider Buying and Selling at International Seaways

In other news, SVP Derek G. Solon sold 4,700 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $89.22, for a total value of $419,334.00. Following the completion of the sale, the senior vice president directly owned 49,719 shares in the company, valued at $4,435,929.18. This represents a 8.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $81.68, for a total value of $81,680.00. Following the completion of the transaction, the chief financial officer directly owned 101,984 shares in the company, valued at approximately $8,330,053.12. This represents a 0.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 42,530 shares of company stock worth $3,699,995. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on INSW. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Jefferies Financial Group restated a “buy” rating and issued a $100.00 price target on shares of International Seaways in a research note on Friday, May 8th. BTIG Research lifted their price objective on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Finally, Wall Street Zen upgraded International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $86.00.

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.