Bluemountain Capital Managemen Sells 170,630 Shares of International Seaways Inc (INSW) Stock

International Seaways Inc (NYSE:INSW) major shareholder Bluemountain Capital Managemen sold 170,630 shares of the firm’s stock in a transaction dated Wednesday, October 17th. The shares were sold at an average price of $21.32, for a total value of $3,637,831.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 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 Monday, October 15th, Bluemountain Capital Managemen sold 126,005 shares of International Seaways stock. The shares were sold at an average price of $20.67, for a total value of $2,604,523.35.
  • On Thursday, October 11th, Bluemountain Capital Managemen sold 129,290 shares of International Seaways stock. The shares were sold at an average price of $21.25, for a total value of $2,747,412.50.
  • On Tuesday, October 9th, Bluemountain Capital Managemen sold 210,870 shares of International Seaways stock. The shares were sold at an average price of $21.59, for a total value of $4,552,683.30.
  • On Wednesday, October 3rd, Bluemountain Capital Managemen sold 163,155 shares of International Seaways stock. The shares were sold at an average price of $21.98, for a total value of $3,586,146.90.
  • On Monday, October 1st, Bluemountain Capital Managemen sold 166,765 shares of International Seaways stock. The shares were sold at an average price of $20.93, for a total value of $3,490,391.45.
  • On Tuesday, September 25th, Bluemountain Capital Managemen sold 199,235 shares of International Seaways stock. The shares were sold at an average price of $20.44, for a total value 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 value of $1,702,550.85.
  • On Wednesday, August 29th, Bluemountain Capital Managemen sold 89,205 shares of International Seaways stock. The stock was sold at an average price of $21.14, for a total value of $1,885,793.70.
  • On Monday, August 27th, Bluemountain Capital Managemen sold 84,915 shares of International Seaways stock. The stock was sold at an average price of $21.07, for a total value of $1,789,159.05.
  • On Thursday, August 23rd, Bluemountain Capital Managemen sold 207,015 shares of International Seaways stock. The stock was sold at an average price of $20.87, for a total value of $4,320,403.05.

INSW stock opened at $21.51 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 12-month low of $15.23 and a 12-month high of $24.78. The stock has a market capitalization of $613.92 million, a P/E ratio of -74.17 and a beta of -0.92.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Wednesday, August 8th. The transportation company reported ($0.71) earnings per share (EPS) 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 analyst estimates of $46.74 million. As a group, analysts expect that International Seaways Inc will post -2.33 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the stock. United Services Automobile Association acquired a new stake in International Seaways in the 2nd quarter worth about $225,000. Jane Street Group LLC purchased a new position in International Seaways in the 2nd quarter worth approximately $427,000. Millennium Management LLC purchased a new position in International Seaways in the 2nd quarter worth approximately $1,160,000. Paloma Partners Management Co purchased a new position in International Seaways in the 2nd quarter worth approximately $956,000. Finally, Bank of America Corp DE lifted its stake in 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 in the last quarter. Institutional investors own 85.39% of the company’s stock.

Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded International Seaways from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th. Jefferies Financial Group assumed coverage on International Seaways in a report on Monday, October 1st. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Stifel Nicolaus assumed coverage on International Seaways in a report on Tuesday, September 25th. They issued a “buy” rating and a $25.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the 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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