180,365 Shares in International Seaways Inc. $INSW Bought by Acorn Financial Advisory Services Inc. ADV

Acorn Financial Advisory Services Inc. ADV purchased a new stake in International Seaways Inc. (NYSE:INSW) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 180,365 shares of the transportation company’s stock, valued at approximately $13,145,000. International Seaways makes up 1.8% of Acorn Financial Advisory Services Inc. ADV’s holdings, making the stock its 19th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Horizon Corp boosted its position in shares of International Seaways by 121.6% in the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after buying an additional 377 shares in the last quarter. Leonteq Securities AG purchased a new position in International Seaways during the 4th quarter valued at about $44,000. Garton & Associates Financial Advisors LLC purchased a new position in International Seaways during the 4th quarter valued at about $46,000. Rockefeller Capital Management L.P. raised 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 worth $47,000 after acquiring an additional 822 shares during the last quarter. Finally, Founders Capital Management raised 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 worth $53,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on INSW. Pareto Securities lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Wall Street Zen upgraded International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 25th. Jefferies Financial Group reiterated a “buy” rating and set a $100.00 target price on shares of International Seaways in a report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft raised 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. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $86.00.

Insiders Place Their Bets

In other news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $81.68, for a total transaction of $81,680.00. Following the completion of the transaction, the chief financial officer owned 101,984 shares of the company’s stock, valued at $8,330,053.12. This represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP William F. Nugent sold 6,830 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $85.23, for a total transaction of $582,120.90. Following the transaction, the senior vice president owned 49,169 shares in the company, valued at approximately $4,190,673.87. The trade was a 12.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 45,530 shares of company stock worth $3,923,635 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.

International Seaways Trading Down 1.4%

Shares of International Seaways stock opened at $76.74 on Wednesday. International Seaways Inc. has a fifty-two week low of $36.21 and a fifty-two week high of $92.66. The business’s fifty day moving average is $82.56 and its two-hundred day moving average is $69.70. 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 firm has a market cap of $3.80 billion, a PE ratio of 6.99 and a beta of -0.12.

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

International Seaways Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $0.12 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.48 annualized dividend and a yield of 0.6%. International Seaways’s payout ratio is 4.37%.

International Seaways 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.