International Seaways Inc. $INSW Shares Purchased by Kingsview Wealth Management LLC

Key Points

• Kingsview Wealth Management LLC increased its stake in International Seaways by 252.7% in the fourth quarter, ending with 64,528 shares valued at about $3.13 million.
• Insider selling was notable, with CAO James D. Small III and SVP William F. Nugent both trimming positions; insiders sold a total of 97,227 shares worth $7.78 million over the last 90 days.
• Analysts remain generally bullish on INSW, with a consensus Buy rating and an average price target of $83.50, while the company also reported strong quarterly results and announced a $0.12 per share dividend.

Kingsview Wealth Management LLC boosted its position in International Seaways Inc. (NYSE:INSW - Free Report) by 252.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,528 shares of the transportation company's stock after acquiring an additional 46,234 shares during the quarter. Kingsview Wealth Management LLC owned 0.13% of International Seaways worth $3,133,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in International Seaways by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,010,815 shares of the transportation company's stock valued at $49,083,000 after acquiring an additional 4,250 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in International Seaways by 23.4% in the fourth quarter. Hantz Financial Services Inc. now owns 1,902 shares of the transportation company's stock valued at $92,000 after acquiring an additional 361 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in International Seaways in the fourth quarter valued at $238,000. Leonteq Securities AG acquired a new position in International Seaways in the fourth quarter valued at $44,000. Finally, ProShare Advisors LLC boosted its holdings in International Seaways by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company's stock valued at $380,000 after acquiring an additional 241 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company's stock.

Insider Buying and Selling

In other International Seaways news, CAO James D. Small III sold 20,000 shares of the firm's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $75.37, for a total value of $1,507,400.00. Following the transaction, the chief accounting officer directly owned 36,376 shares of the company's stock, valued at $2,741,659.12. This trade represents a 35.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP William F. Nugent sold 9,583 shares of the firm's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $76.00, for a total value of $728,308.00. Following the completion of the transaction, the senior vice president directly owned 52,572 shares in the company, valued at $3,995,472. This trade represents a 15.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 97,227 shares of company stock valued at $7,781,495 over the last ninety days. Insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on INSW. Weiss Ratings upgraded International Seaways from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 11th. BTIG Research lifted their target price on International Seaways from $80.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on International Seaways from $63.00 to $80.00 and gave the company a "buy" rating in a report on Monday, March 9th. Pareto Securities cut International Seaways from a "buy" rating to a "hold" rating in a report on Monday, May 18th. Finally, Zacks Research upgraded International Seaways from a "hold" rating to a "strong-buy" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $83.50.

International Seaways Trading Up 0.7%

NYSE:INSW opened at $77.34 on Friday. The business's 50-day moving average is $78.74 and its two-hundred day moving average is $65.11. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28. International Seaways Inc. has a 12 month low of $35.60 and a 12 month high of $92.66. The firm has a market capitalization of $3.83 billion, a PE ratio of 7.04 and a beta of -0.09.

International Seaways (NYSE:INSW - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, beating the consensus estimate of $2.87 by $1.03. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The company had revenue of $325.48 million for the quarter, compared to analyst estimates of $279.34 million. During the same period last year, the company posted $0.80 earnings per share. The firm's revenue was up 77.5% compared to the same quarter last year. Research analysts predict that International Seaways Inc. will post 14.99 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.48 annualized dividend and a yield of 0.6%. International Seaways's dividend payout ratio (DPR) is 4.37%.

International Seaways Company Profile

International Seaways, Inc NYSE: INSW is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.

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