International Seaways Inc (INSW) Major Shareholder Paulson & Co. Inc. Sells 146,000 Shares

International Seaways Inc (NYSE:INSW) major shareholder Paulson & Co. Inc. sold 146,000 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $18.94, for a total transaction of $2,765,240.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Paulson & Co. Inc. also recently made the following trade(s):

  • On Wednesday, September 5th, Paulson & Co. Inc. sold 101,673 shares of International Seaways stock. The shares were sold at an average price of $19.00, for a total transaction of $1,931,787.00.

INSW opened at $18.21 on Friday. 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. The stock has a market capitalization of $547.98 million, a PE ratio of -62.79 and a beta of -0.98.

International Seaways (NYSE:INSW) last posted its earnings results on Wednesday, August 8th. The transportation company reported ($0.71) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.09). International Seaways had a negative return on equity of 6.07% and a negative net margin of 67.42%. The firm had revenue of $56.91 million during the quarter, compared to the consensus estimate of $46.74 million. analysts expect that International Seaways Inc will post -2.44 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. grew its holdings in shares of International Seaways by 3.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 145,398 shares of the transportation company’s stock worth $2,560,000 after purchasing an additional 4,431 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of International Seaways by 16.3% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 45,530 shares of the transportation company’s stock worth $1,054,000 after purchasing an additional 6,390 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of International Seaways by 7.2% in the 2nd quarter. Bank of America Corp DE now owns 122,703 shares of the transportation company’s stock worth $2,840,000 after purchasing an additional 8,284 shares during the last quarter. Northern Trust Corp grew its holdings in shares of International Seaways by 2.6% in the 1st quarter. Northern Trust Corp now owns 336,593 shares of the transportation company’s stock worth $5,924,000 after purchasing an additional 8,488 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of International Seaways by 35.4% in the 2nd quarter. Swiss National Bank now owns 32,900 shares of the transportation company’s stock worth $761,000 after purchasing an additional 8,600 shares during the last quarter. 85.39% of the stock is currently owned by institutional investors and hedge funds.

Separately, ValuEngine raised shares of International Seaways from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd.

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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