Bluemountain Capital Managemen Sells 129,290 Shares of International Seaways Inc (INSW) Stock

International Seaways Inc (NYSE:INSW) major shareholder Bluemountain Capital Managemen sold 129,290 shares of the company’s stock in a transaction dated Thursday, October 11th. The stock was sold at an average price of $21.25, for a total value of $2,747,412.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Bluemountain Capital Managemen also recently made the following trade(s):

  • On Tuesday, October 9th, Bluemountain Capital Managemen sold 210,870 shares of International Seaways stock. The stock was sold at an average price of $21.59, for a total value of $4,552,683.30.
  • On Wednesday, October 3rd, Bluemountain Capital Managemen sold 163,155 shares of International Seaways stock. The stock was sold at an average price of $21.98, for a total value of $3,586,146.90.
  • On Monday, October 1st, Bluemountain Capital Managemen sold 166,765 shares of International Seaways stock. The stock was sold at an average price of $20.93, for a total value of $3,490,391.45.
  • On Tuesday, September 25th, Bluemountain Capital Managemen sold 199,235 shares of International Seaways stock. The stock was sold at an average price of $20.44, for a total value of $4,072,363.40.
  • On Friday, August 31st, Bluemountain Capital Managemen sold 81,345 shares of International Seaways stock. The stock was sold at an average price of $20.93, for a total value of $1,702,550.85.
  • On Wednesday, August 29th, Bluemountain Capital Managemen sold 89,205 shares of International Seaways stock. The shares were sold at an average price of $21.14, for a total value of $1,885,793.70.
  • On Monday, August 27th, Bluemountain Capital Managemen sold 84,915 shares of International Seaways stock. The shares were sold at an average price of $21.07, for a total value of $1,789,159.05.
  • On Thursday, August 23rd, Bluemountain Capital Managemen sold 207,015 shares of International Seaways stock. The shares were sold at an average price of $20.87, for a total value of $4,320,403.05.

Shares of NYSE INSW traded up $0.04 during mid-day trading on Friday, reaching $20.57. 77,800 shares of the company traded hands, compared to its average volume of 150,558. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.94 and a current ratio of 1.99. The firm has a market cap of $584.16 million, a price-to-earnings ratio of -72.55 and a beta of -0.91. International Seaways Inc has a fifty-two week low of $15.23 and a fifty-two week high of $24.78.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Wednesday, August 8th. The transportation company reported ($0.71) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.09). The company had revenue of $56.91 million for the quarter, compared to analyst estimates of $46.74 million. International Seaways had a negative net margin of 67.42% and a negative return on equity of 6.07%. As a group, equities research analysts forecast that International Seaways Inc will post -2.34 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. United Services Automobile Association acquired a new position in shares of International Seaways during the 2nd quarter valued at about $225,000. California Public Employees Retirement System bought a new stake in International Seaways during the 1st quarter valued at approximately $235,000. Leisure Capital Management bought a new stake in International Seaways during the 2nd quarter valued at approximately $240,000. Jane Street Group LLC bought a new stake in International Seaways during the 2nd quarter valued at approximately $427,000. Finally, LMR Partners LLP bought a new stake in International Seaways during the 2nd quarter valued at approximately $452,000. 85.39% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently commented on the company. Zacks Investment Research raised International Seaways from a “sell” rating to a “hold” rating in a report on Wednesday. Jefferies Financial Group assumed coverage on International Seaways in a report on Monday, October 1st. They set a “buy” rating and a $30.00 price objective on the stock. Finally, Stifel Nicolaus assumed coverage on International Seaways in a report on Tuesday, September 25th. They set a “buy” rating and a $25.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $28.00.

About International Seaways

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the International Flag trades. It operates through two segments, Crude Tankers and Product Carriers. As of June 14, 2018, the company owned and operated a fleet of 55 vessels, including 1 ultra large crude carrier, 14 very large crude carriers, 2 Suezmaxes, 7 Aframaxes, 12 Panamaxes, and 13 medium range tankers.

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