Creative Planning Buys 6,435 Shares of International Seaways, Inc. (NYSE:INSW)

Creative Planning lifted its stake in shares of International Seaways, Inc. (NYSE:INSW) by 121.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,725 shares of the transportation company’s stock after purchasing an additional 6,435 shares during the quarter. Creative Planning’s holdings in International Seaways were worth $605,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Commonwealth Equity Services LLC boosted its holdings in International Seaways by 261.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 17,179 shares of the transportation company’s stock worth $914,000 after buying an additional 12,429 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of International Seaways by 28.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,485 shares of the transportation company’s stock valued at $1,303,000 after buying an additional 5,469 shares during the period. BNP Paribas Financial Markets raised its stake in International Seaways by 101.5% during the 1st quarter. BNP Paribas Financial Markets now owns 34,543 shares of the transportation company’s stock worth $1,838,000 after acquiring an additional 17,399 shares during the period. Capstone Investment Advisors LLC purchased a new position in International Seaways during the 1st quarter valued at approximately $449,000. Finally, Sciencast Management LP bought a new position in shares of International Seaways during the 1st quarter valued at approximately $208,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $43.05, for a total transaction of $43,050.00. Following the transaction, the senior vice president now owns 51,803 shares in the company, valued at approximately $2,230,119.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other International Seaways news, Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total value of $245,850.00. Following the sale, the director now directly owns 16,109 shares of the company’s stock, valued at $792,079.53. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $43.05, for a total transaction of $43,050.00. Following the transaction, the senior vice president now directly owns 51,803 shares of the company’s stock, valued at $2,230,119.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,000 shares of company stock worth $738,920. 1.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on INSW. StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Jefferies Financial Group reissued a “buy” rating and set a $66.00 target price on shares of International Seaways in a research note on Wednesday, August 7th. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus cut International Seaways from a “buy” rating to a “hold” rating and cut their price target for the company from $69.00 to $56.00 in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.67.

International Seaways Stock Down 0.9 %

International Seaways stock opened at $43.19 on Tuesday. The stock’s 50 day moving average price is $49.59 and its 200 day moving average price is $54.58. International Seaways, Inc. has a 1-year low of $42.08 and a 1-year high of $65.94. The company has a market cap of $2.15 billion, a PE ratio of 4.11 and a beta of -0.06. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.89 and a quick ratio of 3.87.

International Seaways (NYSE:INSW) last posted its earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.13). International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The business had revenue of $257.40 million for the quarter, compared to analysts’ expectations of $256.13 million. During the same quarter last year, the business posted $3.12 earnings per share. The business’s revenue was down 11.9% compared to the same quarter last year. On average, sell-side analysts predict that International Seaways, Inc. will post 8.5 EPS for the current fiscal year.

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.