Guidance Capital Inc. Makes New $458,000 Investment in International Seaways, Inc. (NYSE:INSW)

Guidance Capital Inc. bought a new position in International Seaways, Inc. (NYSE:INSW) during the fourth quarter, HoldingsChannel.com reports. The fund bought 12,797 shares of the transportation company’s stock, valued at approximately $458,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC increased its stake in International Seaways by 4.3% in the third quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock worth $48,650,000 after purchasing an additional 38,871 shares during the period. FMR LLC increased its stake in shares of International Seaways by 221.0% during the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock valued at $31,050,000 after buying an additional 414,610 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of International Seaways by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock valued at $22,205,000 after buying an additional 32,825 shares during the period. Barclays PLC increased its stake in shares of International Seaways by 206.3% during the third quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock valued at $13,374,000 after buying an additional 174,695 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of International Seaways during the third quarter valued at $6,168,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Price Performance

Shares of INSW stock opened at $40.67 on Thursday. International Seaways, Inc. has a 1-year low of $32.11 and a 1-year high of $65.94. The stock’s 50-day moving average is $37.20 and its 200 day moving average is $44.84. The company has a market cap of $2.00 billion, a P/E ratio of 3.93 and a beta of -0.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The company had revenue of $225.20 million for the quarter, compared to the consensus estimate of $208.75 million. During the same quarter last year, the company earned $1.99 earnings per share. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. Research analysts predict that International Seaways, Inc. will post 7.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on INSW. Stifel Nicolaus lowered International Seaways from a “buy” rating to a “hold” rating and cut their price target for the company from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group cut their price target on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.67.

Insider Activity at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $39.54, for a total value of $39,540.00. Following the completion of the sale, the senior vice president now owns 50,803 shares of the company’s stock, valued at approximately $2,008,750.62. This trade represents a 1.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Derek G. Solon sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total value of $46,692.00. Following the completion of the sale, the senior vice president now directly owns 45,687 shares of the company’s stock, valued at approximately $1,777,681.17. This represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,200 shares of company stock valued at $244,062 over the last quarter. 1.90% of the stock is owned by corporate insiders.

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. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.