International Seaways, Inc. (NYSE:INSW) Short Interest Update

International Seaways, Inc. (NYSE:INSW) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,580,000 shares, an increase of 6.0% from the October 15th total of 1,490,000 shares. Based on an average trading volume of 545,500 shares, the days-to-cover ratio is currently 2.9 days.

International Seaways Stock Up 1.1 %

Shares of International Seaways stock opened at $46.59 on Friday. International Seaways has a 1 year low of $33.04 and a 1 year high of $53.25. The business has a 50-day moving average of $45.21 and a two-hundred day moving average of $41.64. The company has a market capitalization of $2.28 billion, a P/E ratio of 3.59 and a beta of 0.09. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.53 and a quick ratio of 2.52.

International Seaways Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Wednesday, December 13th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $5.00 annualized dividend and a dividend yield of 10.73%. International Seaways’s dividend payout ratio (DPR) is currently 3.70%.

Insider Transactions at International Seaways

In other news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $48.24, for a total transaction of $48,240.00. Following the completion of the sale, the chief financial officer now owns 78,927 shares in the company, valued at $3,807,438.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 5,500 shares of company stock worth $246,985 over the last 90 days. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On International Seaways

Large investors have recently modified their holdings of the business. Federated Hermes Inc. bought a new stake in shares of International Seaways in the third quarter worth about $28,000. Point72 Asset Management L.P. boosted its position in shares of International Seaways by 55.2% during the second quarter. Point72 Asset Management L.P. now owns 1,015 shares of the transportation company’s stock worth $39,000 after buying an additional 361 shares during the period. Coppell Advisory Solutions Corp. acquired a new position in shares of International Seaways during the fourth quarter worth about $46,000. Tower Research Capital LLC TRC boosted its position in shares of International Seaways by 279.0% during the third quarter. Tower Research Capital LLC TRC now owns 1,103 shares of the transportation company’s stock worth $50,000 after buying an additional 812 shares during the period. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of International Seaways during the first quarter worth about $58,000. 63.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on INSW. StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a report on Friday. BTIG Research upped their price objective on International Seaways from $45.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, September 28th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.20.

International Seaways Company Profile

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.