Marshall Wace LLP Trims Stake in International Seaways, Inc. (NYSE:INSW)

Marshall Wace LLP decreased its position in shares of International Seaways, Inc. (NYSE:INSW - Free Report) by 79.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,032 shares of the transportation company's stock after selling 56,384 shares during the quarter. Marshall Wace LLP's holdings in International Seaways were worth $540,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC purchased a new position in International Seaways in the fourth quarter valued at $37,000. R Squared Ltd purchased a new position in shares of International Seaways in the 4th quarter valued at about $59,000. KBC Group NV raised its holdings in International Seaways by 60.2% in the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock worth $62,000 after purchasing an additional 653 shares during the period. Venturi Wealth Management LLC acquired a new stake in International Seaways in the fourth quarter valued at approximately $69,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of International Seaways during the 4th quarter worth approximately $82,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $34.66, for a total value of $69,320.00. Following the sale, the chief executive officer now directly owns 179,557 shares in the company, valued at approximately $6,223,445.62. This trade represents a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $33.89, for a total value of $33,890.00. Following the transaction, the senior vice president now directly owns 55,852 shares of the company's stock, valued at $1,892,824.28. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,400 shares of company stock valued at $380,086 in the last three months. 1.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on INSW. Jefferies Financial Group reissued a "buy" rating and issued a $58.00 price target on shares of International Seaways in a report on Thursday, February 27th. SEB Equity Research set a $50.00 price target on shares of International Seaways in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, International Seaways has a consensus rating of "Moderate Buy" and an average target price of $57.50.

International Seaways Price Performance

INSW stock opened at $34.94 on Friday. International Seaways, Inc. has a 1 year low of $27.20 and a 1 year high of $65.94. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The firm has a market capitalization of $1.72 billion, a PE ratio of 3.38 and a beta of -0.01. The business has a 50 day simple moving average of $33.15 and a 200-day simple moving average of $37.34.

International Seaways Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.37%. The ex-dividend date was Friday, March 14th. International Seaways's payout ratio is currently 5.72%.

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.

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