Swiss National Bank raised its holdings in International Seaways Inc (NYSE:INSW) by 10.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,100 shares of the transportation company’s stock after acquiring an additional 3,500 shares during the quarter. Swiss National Bank owned 0.13% of International Seaways worth $724,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Hosking Partners LLP raised its stake in shares of International Seaways by 48.4% during the 1st quarter. Hosking Partners LLP now owns 403,947 shares of the transportation company’s stock worth $6,924,000 after buying an additional 131,744 shares during the last quarter. SG Americas Securities LLC purchased a new stake in International Seaways during the 1st quarter worth about $102,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in International Seaways by 284.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,084 shares of the transportation company’s stock worth $78,000 after purchasing an additional 3,021 shares in the last quarter. Aperio Group LLC purchased a new stake in International Seaways during the 2nd quarter worth about $65,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in International Seaways during the 2nd quarter worth about $73,000. 76.54% of the stock is owned by institutional investors.
International Seaways stock remained flat at $$19.00 during midday trading on Friday. The company had a trading volume of 77,081 shares, compared to its average volume of 117,807. The firm has a market capitalization of $552.01 million, a P/E ratio of -8.64 and a beta of 0.19. The company’s 50-day moving average is $16.87 and its 200-day moving average is $17.96. International Seaways Inc has a 1 year low of $15.15 and a 1 year high of $22.36. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.76.
International Seaways (NYSE:INSW) last posted its quarterly earnings results on Thursday, August 8th. The transportation company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.03. The company had revenue of $69.01 million during the quarter, compared to analysts’ expectations of $71.97 million. International Seaways had a negative return on equity of 2.49% and a negative net margin of 13.98%. On average, sell-side analysts expect that International Seaways Inc will post 0.05 earnings per share for the current fiscal year.
Separately, Zacks Investment Research upgraded International Seaways from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. International Seaways currently has a consensus rating of “Buy” and an average target price of $24.50.
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 December 31, 2018, the company owned and operated a fleet of 48 vessels, including 13 very large crude carriers, 2 Suezmaxes, 6 Aframaxes, 11 Panamaxes, and 10 medium range tankers.
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