Traders Purchase Large Volume of International Seaways Call Options (NYSE:INSW)

International Seaways Inc. (NYSE:INSWGet Free Report) saw some unusual options trading on Tuesday. Investors bought 4,772 call options on the stock. This represents an increase of approximately 199% compared to the typical daily volume of 1,595 call options.

International Seaways Stock Performance

INSW traded up $1.67 on Tuesday, hitting $87.84. 182,330 shares of the stock traded hands, compared to its average volume of 588,021. The business has a fifty day moving average price of $83.47 and a two-hundred day moving average price of $71.97. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $4.35 billion, a PE ratio of 8.02 and a beta of -0.12. International Seaways has a 52 week low of $37.93 and a 52 week high of $92.66.

International Seaways (NYSE:INSWGet Free Report) last announced its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $1.03. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The company had revenue of $325.48 million during the quarter, compared to the consensus estimate of $279.34 million. During the same quarter last year, the company earned $0.80 EPS. The company’s quarterly revenue was up 77.5% on a year-over-year basis. On average, research analysts predict that International Seaways will post 14.99 EPS for the current fiscal year.

International Seaways Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, June 12th. International Seaways’s dividend payout ratio is presently 4.37%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on INSW shares. Zacks Research downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 25th. Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. Weiss Ratings raised International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Jefferies Financial Group reiterated a “buy” rating and issued a $100.00 price objective on shares of International Seaways in a research note on Friday, May 8th. Finally, Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, International Seaways presently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

Check Out Our Latest Report on International Seaways

Insider Buying and Selling

In other news, CEO Lois K. Zabrocky sold 25,000 shares of International Seaways stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $88.08, for a total value of $2,202,000.00. Following the transaction, the chief executive officer owned 181,745 shares of the company’s stock, valued at $16,008,099.60. This trade represents a 12.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP William F. Nugent sold 6,830 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $85.23, for a total transaction of $582,120.90. Following the completion of the sale, the senior vice president owned 49,169 shares of the company’s stock, valued at $4,190,673.87. The trade was a 12.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 45,530 shares of company stock worth $3,923,635. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On International Seaways

Institutional investors have recently bought and sold shares of the business. First Horizon Corp increased its holdings in International Seaways by 121.6% in the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after buying an additional 377 shares during the period. Leonteq Securities AG acquired a new position in shares of International Seaways in the 4th quarter valued at $44,000. Garton & Associates Financial Advisors LLC bought a new position in shares of International Seaways during the 4th quarter worth about $46,000. Rockefeller Capital Management L.P. lifted its holdings in shares of International Seaways by 583.0% during the 4th 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 period. Finally, Parallel Advisors LLC boosted its position in shares of International Seaways by 85.0% during the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the transportation company’s stock valued at $80,000 after acquiring an additional 505 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Company Profile

(Get Free Report)

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.

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