Rhumbline Advisers Cuts Stock Holdings in International Seaways Inc. $INSW

Rhumbline Advisers cut its stake in shares of International Seaways Inc. (NYSE:INSW) by 14.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 119,458 shares of the transportation company’s stock after selling 19,484 shares during the period. Rhumbline Advisers owned 0.24% of International Seaways worth $5,505,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in INSW. Pacer Advisors Inc. increased its stake in International Seaways by 4,255.3% during the third quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company’s stock worth $9,095,000 after acquiring an additional 192,848 shares during the last quarter. Marex Group plc acquired a new position in shares of International Seaways in the 2nd quarter valued at about $4,276,000. Creative Planning grew its holdings in shares of International Seaways by 270.9% during the 2nd quarter. Creative Planning now owns 30,981 shares of the transportation company’s stock worth $1,130,000 after purchasing an additional 22,628 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of International Seaways by 151.4% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 60,332 shares of the transportation company’s stock worth $2,780,000 after purchasing an additional 36,337 shares during the period. Finally, CSM Advisors LLC acquired a new stake in International Seaways during the 2nd quarter worth approximately $3,882,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $63.29, for a total transaction of $63,290.00. Following the sale, the chief financial officer directly owned 83,463 shares in the company, valued at $5,282,373.27. The trade was a 1.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $63.96, for a total value of $127,920.00. Following the transaction, the chief executive officer owned 178,421 shares of the company’s stock, valued at approximately $11,411,807.16. This trade represents a 1.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 9,000 shares of company stock worth $502,610. Corporate insiders own 2.00% of the company’s stock.

International Seaways Price Performance

INSW opened at $67.08 on Tuesday. International Seaways Inc. has a twelve month low of $27.20 and a twelve month high of $67.49. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 15.28 and a beta of -0.19. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $55.92 and a 200 day simple moving average of $50.79.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on INSW. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a research note on Thursday, January 22nd. BTIG Research lifted their target price on shares of International Seaways from $60.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Pareto Securities upgraded International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Tuesday, January 20th. Wall Street Zen cut International Seaways from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Zacks Research downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.67.

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.