Kingsview Wealth Management LLC Invests $568,000 in International Seaways Inc. $INSW

Kingsview Wealth Management LLC acquired a new position in International Seaways Inc. (NYSE:INSW - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,560 shares of the transportation company's stock, valued at approximately $568,000.

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Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. purchased a new stake in International Seaways in the first quarter valued at about $17,331,000. Encompass Capital Advisors LLC acquired a new position in shares of International Seaways during the first quarter valued at about $9,957,000. Nuveen LLC purchased a new position in shares of International Seaways in the 1st quarter valued at approximately $9,079,000. Baird Financial Group Inc. acquired a new stake in International Seaways in the 1st quarter worth approximately $6,965,000. Finally, Envestnet Asset Management Inc. grew its position in International Seaways by 1,452.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 145,444 shares of the transportation company's stock worth $4,829,000 after purchasing an additional 136,076 shares during the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other International Seaways news, CAO James D. Small III sold 20,000 shares of the company's stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $53.60, for a total value of $1,072,000.00. Following the sale, the chief accounting officer owned 49,292 shares in the company, valued at approximately $2,642,051.20. This represents a 28.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $53.58, for a total transaction of $53,580.00. Following the transaction, the chief financial officer directly owned 71,734 shares of the company's stock, valued at approximately $3,843,507.72. This trade represents a 1.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 32,500 shares of company stock valued at $1,699,875. Insiders own 2.00% of the company's stock.

International Seaways Trading Down 1.4%

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Shares of International Seaways stock opened at $52.99 on Friday. International Seaways Inc. has a 1 year low of $27.20 and a 1 year high of $55.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $2.62 billion, a PE ratio of 11.02 and a beta of -0.02. The firm has a fifty day moving average price of $48.59 and a 200 day moving average price of $43.15.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share for the quarter. The company had revenue of $84.82 million for the quarter. International Seaways had a return on equity of 11.35% and a net margin of 29.88%. Equities research analysts predict that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Dividend Announcement

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, December 9th. International Seaways's dividend payout ratio (DPR) is currently 10.93%.

Wall Street Analysts Forecast Growth

INSW has been the subject of a number of research analyst reports. BTIG Research decreased their price target on shares of International Seaways from $70.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Weiss Ratings reissued a "hold (c+)" rating on shares of International Seaways in a research report on Wednesday, October 8th. Finally, Pareto Securities cut International Seaways from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 11th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $52.67.

Get Our Latest Stock Report on INSW

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.

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