International Seaways Inc (INSW) Major Shareholder Bluemountain Capital Managemen Sells 129,290 Shares

International Seaways Inc (NYSE:INSW) major shareholder Bluemountain Capital Managemen sold 129,290 shares of the stock in a transaction that occurred on Thursday, October 11th. The stock was sold at an average price of $21.25, for a total transaction of $2,747,412.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $4,320,403.05.

Shares of INSW opened at $20.57 on Friday. The company has a market cap of $584.16 million, a P/E ratio of -70.93 and a beta of -0.91. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.94 and a current ratio of 1.99. International Seaways Inc has a twelve month low of $15.23 and a twelve month high of $24.78.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. grew its holdings in International Seaways by 3.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 145,398 shares of the transportation company’s stock valued at $2,560,000 after purchasing an additional 4,431 shares during the last quarter. Northern Trust Corp grew its holdings in International Seaways by 2.6% during the first quarter. Northern Trust Corp now owns 336,593 shares of the transportation company’s stock valued at $5,924,000 after purchasing an additional 8,488 shares during the last quarter. California Public Employees Retirement System acquired a new position in International Seaways during the first quarter valued at approximately $235,000. Dimensional Fund Advisors LP grew its holdings in International Seaways by 32.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,030,466 shares of the transportation company’s stock valued at $18,136,000 after purchasing an additional 250,173 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its holdings in International Seaways by 16.3% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 45,530 shares of the transportation company’s stock valued at $1,054,000 after purchasing an additional 6,390 shares during the last quarter. 85.39% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently weighed in on INSW. Jefferies Financial Group began coverage on shares of International Seaways in a research report on Monday, October 1st. They set a “buy” rating and a $30.00 price objective on the stock. Stifel Nicolaus began coverage on shares of International Seaways in a research report on Tuesday, September 25th. They set a “buy” rating and a $25.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of International Seaways from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $28.00.

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 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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Insider Buying and Selling by Quarter for International Seaways (NYSE:INSW)

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