Asset Management One Co. Ltd. Sells 11,623 Shares of International Seaways, Inc. (NYSE:INSW)

Asset Management One Co. Ltd. decreased its position in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 23.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,534 shares of the transportation company's stock after selling 11,623 shares during the period. Asset Management One Co. Ltd. owned 0.08% of International Seaways worth $1,343,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new stake in International Seaways during the 3rd quarter valued at approximately $41,000. Sunbelt Securities Inc. purchased a new position in shares of International Seaways in the third quarter valued at $52,000. KBC Group NV grew its holdings in shares of International Seaways by 65.2% in the third quarter. KBC Group NV now owns 1,084 shares of the transportation company's stock valued at $56,000 after purchasing an additional 428 shares in the last quarter. R Squared Ltd purchased a new position in shares of International Seaways in the fourth quarter valued at $59,000. Finally, CWM LLC grew its holdings in shares of International Seaways by 106.5% in the third quarter. CWM LLC now owns 3,035 shares of the transportation company's stock valued at $156,000 after purchasing an additional 1,565 shares in the last quarter. Institutional investors own 67.29% of the company's stock.

Insiders Place Their Bets

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction on Friday, November 29th. The shares were sold at an average price of $39.54, for a total transaction of $39,540.00. Following the completion of the transaction, the senior vice president now directly owns 50,803 shares of the company's stock, valued at $2,008,750.62. The trade was a 1.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Derek G. Solon sold 1,200 shares of International Seaways stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total value of $46,692.00. Following the sale, the senior vice president now owns 45,687 shares of the company's stock, valued at approximately $1,777,681.17. This trade represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,200 shares of company stock valued at $160,402 over the last three months. 1.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group cut their target price on shares of International Seaways from $66.00 to $60.00 and set a "buy" rating for the company in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $60.67.

International Seaways Price Performance

Shares of INSW stock traded down $0.68 on Friday, reaching $36.69. The company's stock had a trading volume of 681,662 shares, compared to its average volume of 904,619. The stock's fifty day simple moving average is $37.45 and its 200-day simple moving average is $43.64. International Seaways, Inc. has a 1 year low of $32.11 and a 1 year high of $65.94. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 3.54 and a beta of -0.11.

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.