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

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

Several other large investors also recently added to or reduced their stakes in the business. Blue Trust Inc. bought a new position in shares of International Seaways during the 3rd quarter valued at about $41,000. Sunbelt Securities Inc. purchased a new stake in International Seaways in the third quarter worth approximately $52,000. KBC Group NV grew its position in International Seaways by 65.2% during 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 last quarter. R Squared Ltd purchased a new position in shares of International Seaways during the fourth quarter worth approximately $59,000. Finally, Venturi Wealth Management LLC bought a new stake in shares of International Seaways in the 4th quarter worth approximately $69,000. Institutional investors own 67.29% of the company’s stock.

International Seaways Stock Down 0.6 %

INSW stock opened at $38.33 on Thursday. 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 market capitalization of $1.89 billion, a price-to-earnings ratio of 3.70 and a beta of -0.11. The business’s 50 day moving average price is $37.42 and its two-hundred day moving average price is $43.68. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60.

Wall Street Analyst Weigh In

INSW has been the subject of several analyst reports. Jefferies Financial Group cut their price target 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. Stifel Nicolaus cut International Seaways from a “buy” rating to a “hold” rating and dropped their target price 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 assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.67.

Insider Activity at International Seaways

In other news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $39.54, for a total transaction of $39,540.00. Following the sale, the senior vice president now owns 50,803 shares in the company, valued at approximately $2,008,750.62. The trade was a 1.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Derek G. Solon sold 1,200 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total transaction of $46,692.00. Following the completion of the transaction, the senior vice president now owns 45,687 shares of the company’s stock, valued at approximately $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. Insiders have sold 4,200 shares of company stock worth $160,402 over the last ninety days. 1.90% of the stock is owned by corporate insiders.

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.