State of Alaska Department of Revenue Buys New Holdings in International Seaways, Inc. (NYSE:INSW)

State of Alaska Department of Revenue bought a new stake in International Seaways, Inc. (NYSE:INSW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 22,390 shares of the transportation company's stock, valued at approximately $804,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of International Seaways by 4.3% in the third quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company's stock valued at $48,650,000 after purchasing an additional 38,871 shares in the last quarter. FMR LLC grew its holdings in shares of International Seaways by 221.0% in the third 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. Charles Schwab Investment Management Inc. boosted its stake in International Seaways by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company's stock worth $22,205,000 after buying an additional 32,825 shares during the period. Private Management Group Inc. boosted its stake in International Seaways by 29.9% during the fourth quarter. Private Management Group Inc. now owns 382,750 shares of the transportation company's stock worth $13,756,000 after buying an additional 88,007 shares during the period. Finally, Barclays PLC boosted its stake in International Seaways by 206.3% during the third quarter. Barclays PLC now owns 259,393 shares of the transportation company's stock worth $13,374,000 after buying an additional 174,695 shares during the period. 67.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $39.10, for a total value of $39,100.00. Following the completion of the sale, the senior vice president now directly owns 48,803 shares in the company, valued at $1,908,197.30. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Derek G. Solon sold 1,200 shares of International Seaways stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $38.91, for a total value of $46,692.00. Following the completion of the sale, the senior vice president now owns 45,687 shares of the company's stock, valued at $1,777,681.17. The trade was a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,200 shares of company stock worth $160,402. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on INSW. Jefferies Financial Group dropped 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 lowered shares of International Seaways from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $60.67.

International Seaways Trading Up 1.7 %

Shares of NYSE:INSW traded up $0.65 on Tuesday, hitting $38.88. 161,574 shares of the company's stock were exchanged, compared to its average volume of 905,908. International Seaways, Inc. has a 12 month low of $32.11 and a 12 month high of $65.94. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 3.76 and a beta of -0.11. The business's 50 day simple moving average is $37.35 and its two-hundred day simple moving average is $43.81. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60.

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.