International Seaways (INSW) Position Lifted by Mangrove Partners

Mangrove Partners increased its position in International Seaways (NYSE:INSW) by 93.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 777,561 shares of the transportation company’s stock after buying an additional 375,417 shares during the quarter. International Seaways comprises about 1.9% of Mangrove Partners’ investment portfolio, making the stock its 15th biggest position. Mangrove Partners owned 2.67% of International Seaways worth $14,354,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Deutsche Bank AG grew its stake in shares of International Seaways by 70.3% during the fourth quarter. Deutsche Bank AG now owns 66,735 shares of the transportation company’s stock valued at $1,231,000 after acquiring an additional 27,559 shares in the last quarter. Thrivent Financial For Lutherans acquired a new stake in shares of International Seaways during the fourth quarter valued at about $1,076,000. Donald Smith & CO. Inc. grew its stake in shares of International Seaways by 184.2% during the fourth quarter. Donald Smith & CO. Inc. now owns 2,407,644 shares of the transportation company’s stock valued at $44,445,000 after acquiring an additional 1,560,422 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of International Seaways by 17.9% during the fourth quarter. Alliancebernstein L.P. now owns 51,265 shares of the transportation company’s stock worth $946,000 after purchasing an additional 7,800 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new position in shares of International Seaways during the fourth quarter worth about $842,000. 85.35% of the stock is currently owned by institutional investors and hedge funds.

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International Seaways stock traded down $0.51 during mid-day trading on Monday, hitting $17.09. The company’s stock had a trading volume of 83,558 shares, compared to its average volume of 185,601. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.79. The firm has a market cap of $511.98, a price-to-earnings ratio of -59.55 and a beta of -0.45. International Seaways has a twelve month low of $15.23 and a twelve month high of $23.43.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, March 8th. The transportation company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.03. International Seaways had a negative net margin of 36.57% and a negative return on equity of 0.11%. The firm had revenue of $69.40 million for the quarter, compared to analysts’ expectations of $66.17 million. During the same period in the previous year, the company posted ($1.98) EPS. The company’s quarterly revenue was down 19.1% compared to the same quarter last year. equities analysts predict that International Seaways will post -1.08 EPS for the current fiscal year.

In related news, major shareholder Paulson & Co. Inc. bought 357,479 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was bought at an average price of $18.34 per share, with a total value of $6,556,164.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.52% of the company’s stock.

A number of brokerages have issued reports on INSW. JPMorgan Chase raised their target price on shares of International Seaways from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, March 23rd. ValuEngine cut International Seaways from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of International Seaways from a “sell” rating to a “hold” rating in a research note on Thursday, March 22nd. Finally, Pareto Securities started coverage on shares of International Seaways in a research note on Tuesday, January 16th. They set a “buy” rating on the stock.

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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 March 8, 2018, the company owned or operated a fleet of 53 vessels, including 1 ultra large crude carrier, 9 very large crude carriers, 2 Suezmaxes, 8 Aframaxes, 12 Panamaxes, and 15 medium range tankers.

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

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