Hosking Partners LLP Sells 89,015 Shares of International Seaways, Inc. (NYSE:INSW)

Hosking Partners LLP reduced its position in International Seaways, Inc. (NYSE:INSW) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 755,557 shares of the transportation company’s stock after selling 89,015 shares during the period. Hosking Partners LLP owned 1.54% of International Seaways worth $27,155,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INSW. Blue Trust Inc. bought a new position in shares of International Seaways during the 3rd quarter valued at approximately $41,000. Sunbelt Securities Inc. purchased a new stake in shares of International Seaways in the third quarter valued at $52,000. KBC Group NV lifted its holdings in shares of International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $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 4th quarter worth about $59,000. Finally, Venturi Wealth Management LLC bought a new position in International Seaways during the 4th quarter valued at about $69,000. 67.29% of the stock is owned by institutional investors.

International Seaways Price Performance

NYSE INSW opened at $33.83 on Friday. The company has a market cap of $1.66 billion, a PE ratio of 3.27 and a beta of -0.11. The firm’s 50 day moving average price is $37.68 and its 200-day moving average price is $43.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. International Seaways, Inc. has a 52-week low of $32.11 and a 52-week high of $65.94.

Wall Street Analyst Weigh In

INSW has been the subject of several analyst reports. SEB Equity Research set a $50.00 price objective on shares of International Seaways in a research note on Friday, January 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $58.00 target price on shares of International Seaways in a research report on Thursday. 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, International Seaways currently has an average rating of “Moderate Buy” and an average price target of $57.50.

Insider Buying and Selling at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $35.07, for a total value of $35,070.00. Following the completion of the sale, the senior vice president now directly owns 49,803 shares in the company, valued at $1,746,591.21. This trade represents a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.90% of the company’s stock.

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.