Denali Advisors LLC Invests $2.25 Million in International Seaways, Inc. (NYSE:INSW)

Denali Advisors LLC acquired a new position in International Seaways, Inc. (NYSE:INSW) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 62,700 shares of the transportation company’s stock, valued at approximately $2,253,000. Denali Advisors LLC owned approximately 0.13% of International Seaways at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. acquired a new position in International Seaways during the 3rd quarter valued at about $41,000. Sunbelt Securities Inc. acquired a new position in shares of International Seaways during the third quarter valued at approximately $52,000. KBC Group NV increased its stake 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 valued at $56,000 after acquiring an additional 428 shares during the period. R Squared Ltd bought a new stake in International Seaways during the fourth quarter worth approximately $59,000. Finally, Venturi Wealth Management LLC acquired a new stake in International Seaways in the fourth quarter worth approximately $69,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Jefferies Financial Group dropped their price objective on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. SEB Equity Research set a $50.00 target price on 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 assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $58.00.

International Seaways Trading Up 0.6 %

Shares of NYSE INSW opened at $36.47 on Thursday. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 12 month low of $32.11 and a 12 month high of $65.94. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 3.52 and a beta of -0.11. The business has a fifty day simple moving average of $37.68 and a 200-day simple moving average of $43.23.

Insiders Place Their Bets

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $35.07, for a total transaction of $35,070.00. Following the transaction, the senior vice president now directly owns 49,803 shares in the company, valued at approximately $1,746,591.21. The trade was a 1.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 3,000 shares of company stock worth $113,710. Company 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.