Private Management Group Inc. Buys 88,007 Shares of International Seaways, Inc. (NYSE:INSW)

Private Management Group Inc. raised its stake in International Seaways, Inc. (NYSE:INSW) by 29.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 382,750 shares of the transportation company’s stock after buying 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 and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted 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 during the period. Kingsview Wealth Management LLC bought a new stake in International Seaways during the 3rd quarter valued at $2,161,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of International Seaways by 8.3% in the 3rd 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. Barclays PLC grew 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 worth $13,374,000 after buying an additional 174,695 shares in the last quarter. Finally, FMR LLC grew its position in shares of International Seaways by 221.0% during the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after buying an additional 414,610 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Jefferies Financial Group decreased their price objective on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Stifel Nicolaus lowered 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 report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.67.

International Seaways Trading Down 0.6 %

Shares of NYSE:INSW opened at $40.67 on Thursday. The company has a market capitalization of $2.00 billion, a PE ratio of 3.93 and a beta of -0.11. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 12-month low of $32.11 and a 12-month high of $65.94. The business’s fifty day simple moving average is $37.20 and its 200-day simple moving average is $44.84.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.15. The company had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. 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 firm earned $1.99 earnings per share. As a group, equities research analysts predict that International Seaways, Inc. will post 7.82 earnings per share for the current fiscal year.

Insider Activity

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $41.83, for a total value 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 approximately $6,336,199.25. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $39.54, for a total value of $39,540.00. Following the completion of the sale, the senior vice president now directly owns 50,803 shares of the company’s stock, valued at approximately $2,008,750.62. This represents a 1.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,200 shares of company stock worth $244,062. Corporate 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.