Cynosure Group LLC Purchases 1,422 Shares of International Seaways, Inc. (NYSE:INSW)

Cynosure Group LLC raised its position in International Seaways, Inc. (NYSE:INSW) by 19.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,593 shares of the transportation company’s stock after purchasing an additional 1,422 shares during the quarter. Cynosure Group LLC’s holdings in International Seaways were worth $309,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of INSW. Larson Financial Group LLC acquired a new position in shares of International Seaways in the fourth quarter valued at approximately $37,000. Sunbelt Securities Inc. bought a new stake in International Seaways during the 3rd quarter worth approximately $52,000. R Squared Ltd bought a new stake in International Seaways during the 4th quarter worth approximately $59,000. KBC Group NV increased its position in International Seaways by 60.2% in the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company’s stock valued at $62,000 after acquiring an additional 653 shares during the period. Finally, Venturi Wealth Management LLC bought a new position in shares of International Seaways during the fourth quarter valued at $69,000. 67.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on INSW shares. Jefferies Financial Group reissued a “buy” rating and issued a $58.00 price objective on shares of International Seaways in a research note on Thursday, February 27th. SEB Equity Research set a $50.00 price objective on International Seaways in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.50.

International Seaways Price Performance

INSW stock opened at $33.09 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. The company’s fifty day simple moving average is $36.04 and its 200 day simple moving average is $40.39. International Seaways, Inc. has a 12-month low of $31.70 and a 12-month high of $65.94. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 3.20 and a beta of -0.01.

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.45%. International Seaways’s payout ratio is 5.72%.

Insider Buying and Selling

In other International Seaways news, SVP Derek G. Solon sold 4,400 shares of International Seaways stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $33.39, for a total value of $146,916.00. Following the completion of the sale, the senior vice president now directly owns 50,453 shares of the company’s stock, valued at approximately $1,684,625.67. The trade was a 8.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $32.63, for a total transaction of $32,630.00. Following the transaction, the senior vice president now directly owns 56,846 shares in the company, valued at $1,854,884.98. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,400 shares of company stock valued at $321,856 over the last 90 days. Company insiders own 1.90% of the company’s stock.

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.