Bfsg LLC Buys 357 Shares of International Seaways, Inc. (NYSE:INSW)

Bfsg LLC increased its position in International Seaways, Inc. (NYSE:INSW) by 14.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,748 shares of the transportation company’s stock after purchasing an additional 357 shares during the period. Bfsg LLC’s holdings in International Seaways were worth $99,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of International Seaways by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock worth $48,650,000 after purchasing an additional 38,871 shares in the last quarter. Kingsview Wealth Management LLC purchased a new stake in shares of International Seaways during the third quarter valued at $2,161,000. Charles Schwab Investment Management Inc. increased its holdings in 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 in the last quarter. Barclays PLC raised its position in International Seaways by 206.3% in 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 during the last quarter. Finally, FMR LLC lifted its stake in International Seaways by 221.0% during the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock valued at $31,050,000 after acquiring an additional 414,610 shares during the period. 67.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Seaways

In other news, SVP Derek G. Solon sold 1,200 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $38.91, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction on 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 owns 50,803 shares of the company’s stock, valued at $2,008,750.62. This trade represents a 1.93 % 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 valued at $160,402. Insiders own 1.90% of the company’s stock.

International Seaways Price Performance

NYSE INSW opened at $38.33 on Thursday. The company has a 50-day moving average price of $37.42 and a 200-day moving average price of $43.68. International Seaways, Inc. has a 52 week low of $32.11 and a 52 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 firm has a market capitalization of $1.89 billion, a P/E ratio of 3.70 and a beta of -0.11.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on INSW shares. Stifel Nicolaus lowered shares of International Seaways from a “buy” rating to a “hold” rating and reduced their price target for the stock from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group cut their target price on shares of 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 research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

International Seaways Company 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.