International Seaways, Inc. (NYSE:INSW) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC trimmed its holdings in International Seaways, Inc. (NYSE:INSW - Free Report) by 62.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,884 shares of the transportation company's stock after selling 26,027 shares during the period. Kingsview Wealth Management LLC's holdings in International Seaways were worth $571,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in INSW. FMR LLC raised its position in shares of International Seaways by 221.0% in the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company's stock valued at $31,050,000 after purchasing an additional 414,610 shares in the last quarter. Barclays PLC raised its position in shares of International Seaways by 206.3% during the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company's stock valued at $13,374,000 after acquiring an additional 174,695 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of International Seaways during the 3rd quarter valued at approximately $6,168,000. Nisa Investment Advisors LLC raised its position in shares of International Seaways by 1,677.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 110,945 shares of the transportation company's stock valued at $3,987,000 after acquiring an additional 104,704 shares in the last quarter. Finally, Private Management Group Inc. raised its position in shares of International Seaways by 29.9% during the 4th quarter. Private Management Group Inc. now owns 382,750 shares of the transportation company's stock valued at $13,756,000 after acquiring an additional 88,007 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on INSW shares. Stifel Nicolaus lowered International Seaways from a "buy" rating to a "hold" rating and dropped their price target for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group dropped their price target on International Seaways from $66.00 to $60.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, International Seaways has an average rating of "Moderate Buy" and a consensus price target of $60.67.

International Seaways Stock Performance

NYSE INSW traded down $0.84 during trading hours on Friday, hitting $38.16. The company had a trading volume of 719,238 shares, compared to its average volume of 985,006. International Seaways, Inc. has a fifty-two week low of $32.11 and a fifty-two week high of $65.94. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $37.33 and a 200-day simple moving average of $43.93. The firm has a market cap of $1.88 billion, a P/E ratio of 3.69 and a beta of -0.11.

Insiders Place Their Bets

In other International Seaways news, SVP Derek G. Solon sold 1,200 shares of the 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 directly owns 45,687 shares of the company's stock, valued at $1,777,681.17. This trade represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $35.07, for a total value of $35,070.00. Following the transaction, the senior vice president now directly owns 49,803 shares in the company, valued at $1,746,591.21. This trade represents a 1.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,200 shares of company stock valued at $160,402 over the last three months. Company insiders own 1.90% of the company's stock.

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 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.