Allspring Global Investments Holdings LLC Sells 39,000 Shares of International Seaways, Inc. (NYSE:INSW)

Allspring Global Investments Holdings LLC decreased its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 54.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,206 shares of the transportation company’s stock after selling 39,000 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of International Seaways worth $1,157,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. purchased a new stake in shares of International Seaways in the 3rd quarter worth approximately $41,000. Sunbelt Securities Inc. purchased a new stake in shares of International Seaways in the 3rd quarter worth approximately $52,000. KBC Group NV grew its stake in shares of International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after buying an additional 428 shares during the last quarter. R Squared Ltd purchased a new stake in shares of International Seaways in the 4th quarter worth approximately $59,000. Finally, DMC Group LLC grew its stake in shares of International Seaways by 9.9% in the 4th quarter. DMC Group LLC now owns 5,974 shares of the transportation company’s stock worth $215,000 after buying an additional 540 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Jefferies Financial Group cut their price target 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 research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $58.00.

International Seaways Stock Performance

Shares of INSW opened at $36.69 on Friday. The business’s fifty day simple moving average is $37.48 and its two-hundred day simple moving average is $43.49. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 3.54 and a beta of -0.11. The company has a current ratio of 3.60, a quick 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.

Insider Activity

In other International Seaways news, SVP Derek G. Solon sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total transaction of $46,692.00. Following the sale, the senior vice president now directly owns 45,687 shares of the company’s stock, valued at $1,777,681.17. This trade represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $39.10, for a total value of $39,100.00. Following the sale, the senior vice president now directly owns 48,803 shares in the company, valued at approximately $1,908,197.30. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,200 shares of company stock valued at $160,402 in the last ninety days. 1.90% of the stock is currently owned by company insiders.

International Seaways 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.