Victory Capital Management Inc. raised its stake in shares of International Seaways Inc (NYSE:INSW) by 600.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,994 shares of the transportation company’s stock after buying an additional 54,003 shares during the period. Victory Capital Management Inc.’s holdings in International Seaways were worth $1,402,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bailard Inc. bought a new position in International Seaways during the fourth quarter valued at about $205,000. California Public Employees Retirement System bought a new position in shares of International Seaways in the third quarter worth about $250,000. Russell Investments Group Ltd. increased its stake in shares of International Seaways by 62.9% in the third quarter. Russell Investments Group Ltd. now owns 27,198 shares of the transportation company’s stock worth $524,000 after purchasing an additional 10,500 shares during the period. Rhumbline Advisers increased its stake in shares of International Seaways by 9.9% in the third quarter. Rhumbline Advisers now owns 37,833 shares of the transportation company’s stock worth $729,000 after purchasing an additional 3,423 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of International Seaways by 1.2% in the third quarter. California State Teachers Retirement System now owns 39,294 shares of the transportation company’s stock worth $757,000 after purchasing an additional 469 shares during the period. Institutional investors own 77.81% of the company’s stock.
In other news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $29.80, for a total value of $29,800.00. Following the transaction, the chief financial officer now directly owns 23,874 shares in the company, valued at $711,445.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 3,000 shares of company stock worth $78,500 over the last quarter. 1.60% of the stock is currently owned by corporate insiders.
A number of research firms have recently commented on INSW. Zacks Investment Research upgraded International Seaways from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Tuesday, January 14th. Stifel Nicolaus lifted their price objective on International Seaways from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, ValuEngine lowered International Seaways from a “sell” rating to a “strong sell” rating in a research note on Thursday, February 6th.
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 trades. It operates through two segments, Crude Tankers and Product Carriers. As of December 31, 2018, the company owned and operated a fleet of 48 vessels, including 13 very large crude carriers, 2 Suezmaxes, 6 Aframaxes, 11 Panamaxes, and 10 medium range tankers.
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