Hosking Partners LLP Reduces Position in International Seaways, Inc. (NYSE:INSW)

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

Several other institutional investors and hedge funds have also made changes to their positions in INSW. Blue Trust Inc. purchased a new position in International Seaways in the 3rd quarter worth $41,000. Sunbelt Securities Inc. acquired a new position in shares of International Seaways in the third quarter valued at about $52,000. KBC Group NV lifted its holdings in shares of International Seaways by 65.2% during the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after purchasing an additional 428 shares during the period. R Squared Ltd acquired a new stake in shares of International Seaways during the fourth quarter worth about $59,000. Finally, Venturi Wealth Management LLC purchased a new stake in International Seaways in the fourth quarter valued at approximately $69,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INSW has been the subject of several research reports. Jefferies Financial Group restated a “buy” rating and set a $58.00 price objective on shares of International Seaways in a research note on Thursday. SEB Equity Research set a $50.00 price target on shares of International Seaways in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.50.

International Seaways Price Performance

NYSE:INSW opened at $33.83 on Friday. The company has a 50 day moving average price of $37.68 and a 200-day moving average price of $43.23. International Seaways, Inc. has a 1-year low of $32.11 and a 1-year high of $65.94. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 3.27 and a beta of -0.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60.

Insider Transactions at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were 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 owns 48,803 shares of the company’s stock, valued at approximately $1,908,197.30. The trade was a 2.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.