Cubist Systematic Strategies LLC Acquires Shares of 17,032 International Seaways Inc (NYSE:INSW)

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Cubist Systematic Strategies LLC acquired a new stake in shares of International Seaways Inc (NYSE:INSW) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 17,032 shares of the transportation company’s stock, valued at approximately $324,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp raised its stake in International Seaways by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 111,578 shares of the transportation company’s stock valued at $2,120,000 after buying an additional 654 shares in the last quarter. SG Americas Securities LLC raised its stake in International Seaways by 21.1% during the second quarter. SG Americas Securities LLC now owns 7,235 shares of the transportation company’s stock valued at $137,000 after buying an additional 1,260 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in International Seaways by 0.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 297,725 shares of the transportation company’s stock valued at $5,657,000 after buying an additional 1,989 shares in the last quarter. Bank of Montreal Can raised its stake in International Seaways by 30,442.9% during the second quarter. Bank of Montreal Can now owns 2,138 shares of the transportation company’s stock valued at $40,000 after buying an additional 2,131 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in International Seaways during the second quarter valued at approximately $41,000. Hedge funds and other institutional investors own 76.54% of the company’s stock.

Shares of International Seaways stock opened at $25.46 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.76. The business’s 50 day simple moving average is $18.94 and its 200-day simple moving average is $18.30. The stock has a market capitalization of $743.99 million, a price-to-earnings ratio of -11.57 and a beta of 0.21. International Seaways Inc has a twelve month low of $15.15 and a twelve month high of $26.32.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Thursday, August 8th. The transportation company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.03. The business had revenue of $69.01 million for 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%. Sell-side analysts predict that International Seaways Inc will post 0.44 earnings per share for the current year.

INSW has been the topic of several research reports. Zacks Investment Research cut International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday. BTIG Research initiated coverage on International Seaways in a research note on Friday. They set a “buy” rating and a $30.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $27.25.

International Seaways 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 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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Institutional Ownership by Quarter for International Seaways (NYSE:INSW)

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