Kingsview Wealth Management LLC Purchases New Position in International Seaways Inc. $INSW

Kingsview Wealth Management LLC purchased a new position in shares of International Seaways Inc. (NYSE:INSW) during the second quarter, Holdings Channel reports. The firm purchased 15,560 shares of the transportation company’s stock, valued at approximately $568,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Picton Mahoney Asset Management acquired a new position in shares of International Seaways during the 1st quarter worth approximately $55,000. PNC Financial Services Group Inc. grew its stake in International Seaways by 550.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,822 shares of the transportation company’s stock valued at $60,000 after acquiring an additional 1,542 shares during the period. Blue Trust Inc. increased its holdings in International Seaways by 18.3% in the 2nd quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock worth $68,000 after acquiring an additional 289 shares in the last quarter. GAMMA Investing LLC raised its position in International Seaways by 193.4% during the second quarter. GAMMA Investing LLC now owns 3,412 shares of the transportation company’s stock worth $124,000 after acquiring an additional 2,249 shares during the period. Finally, SBI Securities Co. Ltd. lifted its holdings in International Seaways by 25.0% during the second quarter. SBI Securities Co. Ltd. now owns 3,838 shares of the transportation company’s stock valued at $140,000 after purchasing an additional 767 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $44.12, for a total transaction of $88,240.00. Following the transaction, the chief executive officer owned 186,771 shares in the company, valued at $8,240,336.52. The trade was a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $53.58, for a total transaction of $53,580.00. Following the transaction, the chief financial officer directly owned 71,734 shares in the company, valued at approximately $3,843,507.72. The trade was a 1.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 32,500 shares of company stock worth $1,699,875. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on INSW. Pareto Securities cut shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. BTIG Research lowered their price objective on International Seaways from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, International Seaways currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.67.

International Seaways Stock Performance

INSW opened at $52.99 on Friday. International Seaways Inc. has a twelve month low of $27.20 and a twelve month high of $55.18. The firm has a market capitalization of $2.62 billion, a PE ratio of 11.02 and a beta of -0.02. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average price is $48.59 and its 200 day moving average price is $43.15.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Wednesday, November 23rd. The transportation company reported ($0.63) EPS for the quarter. The business had revenue of $84.82 million during the quarter. International Seaways had a net margin of 29.88% and a return on equity of 11.35%. As a group, sell-side analysts expect that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 9th. This represents a $0.48 dividend on an annualized basis and a yield of 0.9%. International Seaways’s dividend payout ratio (DPR) is presently 10.93%.

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.