EntryPoint Capital LLC Invests $219,000 in International Seaways, Inc. (NYSE:INSW)

EntryPoint Capital LLC acquired a new stake in International Seaways, Inc. (NYSE:INSW) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,090 shares of the transportation company’s stock, valued at approximately $219,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of International Seaways by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company’s stock worth $171,043,000 after acquiring an additional 369,145 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of International Seaways by 9.8% during the 4th quarter. American Century Companies Inc. now owns 1,632,753 shares of the transportation company’s stock worth $58,681,000 after purchasing an additional 146,145 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of International Seaways by 4.3% during the third quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock worth $48,650,000 after buying an additional 38,871 shares in the last quarter. FMR LLC lifted its stake in shares of International Seaways by 221.0% during the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after purchasing an additional 414,610 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of International Seaways by 7.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 463,611 shares of the transportation company’s stock worth $16,662,000 after purchasing an additional 32,953 shares during the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other International Seaways news, SVP Derek G. Solon sold 4,400 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $33.39, for a total transaction of $146,916.00. Following the transaction, the senior vice president now owns 50,453 shares in the company, valued at $1,684,625.67. The trade was a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $35.07, for a total value of $35,070.00. Following the completion of the sale, the senior vice president now owns 49,803 shares of the company’s stock, valued at approximately $1,746,591.21. This trade represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,400 shares of company stock worth $324,296 over the last ninety days. 1.90% of the stock is owned by company insiders.

International Seaways Stock Performance

International Seaways stock opened at $33.16 on Friday. 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, Inc. has a 12 month low of $31.70 and a 12 month high of $65.94. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 3.20 and a beta of -0.17. The stock’s 50-day moving average is $36.28 and its 200-day moving average is $40.72.

International Seaways Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.12 per share. The ex-dividend date was Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 1.45%. International Seaways’s dividend payout ratio (DPR) is 5.72%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on INSW. SEB Equity Research set a $50.00 target price on International Seaways in a research report on Friday, January 24th. Jefferies Financial Group reissued a “buy” rating and issued a $58.00 target price on shares of International Seaways in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.50.

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.