International Seaways, Inc. (NYSE:INSW) Shares Acquired by Private Management Group Inc.

Private Management Group Inc. boosted its position in International Seaways, Inc. (NYSE:INSW - Free Report) by 29.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 382,750 shares of the transportation company's stock after purchasing an additional 88,007 shares during the period. Private Management Group Inc. owned about 0.78% of International Seaways worth $13,756,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new stake in shares of International Seaways in the 3rd quarter valued at approximately $41,000. Sunbelt Securities Inc. acquired a new stake in International Seaways in the third quarter valued at $52,000. KBC Group NV lifted its holdings in 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 acquiring an additional 428 shares during the period. R Squared Ltd purchased a new stake in shares of International Seaways during the 4th quarter worth $59,000. Finally, CWM LLC grew its stake 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 worth $156,000 after purchasing an additional 1,565 shares during the period. Hedge funds and other institutional investors own 67.29% of the company's stock.

Wall Street Analyst Weigh In

INSW has been the subject of several recent analyst reports. Jefferies Financial Group reduced their price objective on shares of International Seaways from $66.00 to $60.00 and set a "buy" rating for the company in a research note on Thursday, November 14th. Stifel Nicolaus downgraded shares of International Seaways from a "buy" rating to a "hold" rating and reduced their price target for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $60.67.

International Seaways Price Performance

Shares of NYSE:INSW traded down $0.29 during midday trading on Friday, hitting $39.36. 507,310 shares of the stock were exchanged, compared to its average volume of 985,006. International Seaways, Inc. has a twelve month low of $32.11 and a twelve month 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 50 day moving average price of $37.21 and a 200-day moving average price of $44.67. The stock has a market cap of $1.94 billion, a P/E ratio of 3.80 and a beta of -0.11.

International Seaways (NYSE:INSW - Get Free Report) last announced its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.15. The company had revenue of $225.20 million during the quarter, compared to analysts' expectations of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm's quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.99 earnings per share. On average, research analysts forecast that International Seaways, Inc. will post 7.77 earnings per share for the current year.

Insider Transactions at International Seaways

In other International Seaways news, SVP Derek G. Solon sold 1,200 shares of the firm's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $38.91, for a total transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $41.83, for a total transaction of $83,660.00. Following the completion of the transaction, the chief executive officer now directly owns 151,475 shares of the company's stock, valued at approximately $6,336,199.25. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,200 shares of company stock valued at $244,062 in the last ninety days. Corporate 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.