Bleakley Financial Group LLC Takes $610,000 Position in International Seaways, Inc. (NYSE:INSW)

Bleakley Financial Group LLC bought a new position in shares of International Seaways, Inc. (NYSE:INSW - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 16,980 shares of the transportation company's stock, valued at approximately $610,000.

A number of other large investors have also recently bought and sold shares of the company. Creative Planning purchased a new position in International Seaways during the second quarter valued at $313,000. CWM LLC boosted its position in shares of International Seaways by 106.5% during the 3rd quarter. CWM LLC now owns 3,035 shares of the transportation company's stock valued at $156,000 after acquiring an additional 1,565 shares during the last quarter. Ellsworth Advisors LLC purchased a new stake in shares of International Seaways in the third quarter valued at about $481,000. Blue Trust Inc. acquired a new stake in shares of International Seaways during the 3rd quarter worth approximately $41,000. Finally, DMC Group LLC lifted its stake in shares of International Seaways by 27.9% in the 3rd quarter. DMC Group LLC now owns 5,434 shares of the transportation company's stock valued at $280,000 after purchasing an additional 1,185 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Stifel Nicolaus lowered International Seaways from a "buy" rating to a "hold" rating and decreased their target price for the stock from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group cut their price objective on International Seaways from $66.00 to $60.00 and set a "buy" rating for the company in a research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.67.

International Seaways Trading Down 3.2 %

NYSE INSW traded down $1.28 during mid-day trading on Thursday, reaching $39.02. 575,951 shares of the stock were exchanged, compared to its average volume of 938,285. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The stock has a market capitalization of $1.92 billion, a PE ratio of 3.77 and a beta of -0.11. The business's fifty day simple moving average is $37.28 and its 200 day simple moving average is $44.25. International Seaways, Inc. has a 1-year low of $32.11 and a 1-year high of $65.94.

Insider Transactions at International Seaways

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the company's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $41.83, for a total transaction of $83,660.00. Following the completion of the sale, the chief executive officer now directly owns 151,475 shares in the company, valued at $6,336,199.25. This represents a 1.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $39,540.00. Following the completion of the transaction, the senior vice president now owns 50,803 shares in the company, valued at $2,008,750.62. The trade was a 1.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,200 shares of company stock worth $244,062 in the last three months. Company insiders own 1.90% of the company's stock.

About International Seaways

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.