Greenland Capital Management LP Invests $783,000 in International Seaways Inc. $INSW

Greenland Capital Management LP purchased a new stake in shares of International Seaways Inc. (NYSE:INSW) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 17,000 shares of the transportation company’s stock, valued at approximately $783,000.

Other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. grew its holdings in International Seaways by 99.5% in the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after acquiring an additional 378 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of International Seaways by 601.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock worth $55,000 after purchasing an additional 1,293 shares during the period. Hantz Financial Services Inc. grew its stake in shares of International Seaways by 450.4% in the third quarter. Hantz Financial Services Inc. now owns 1,541 shares of the transportation company’s stock worth $71,000 after purchasing an additional 1,261 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of International Seaways by 240.1% in the second quarter. NewEdge Advisors LLC now owns 2,010 shares of the transportation company’s stock worth $73,000 after purchasing an additional 1,419 shares during the last quarter. Finally, State of Wyoming purchased a new position in International Seaways during the 2nd quarter valued at about $87,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Price Performance

INSW opened at $69.74 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 15.89 and a beta of -0.19. The stock has a fifty day simple moving average of $56.35 and a two-hundred day simple moving average of $50.98. International Seaways Inc. has a 12-month low of $27.20 and a 12-month high of $69.95.

Analysts Set New Price Targets

Several equities research analysts have weighed in on INSW shares. Zacks Research cut International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. BTIG Research lifted their price target on shares of International Seaways from $60.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a research report on Thursday, January 22nd. Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Tuesday, January 20th. Finally, Wall Street Zen lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.67.

Insider Activity

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $63.96, for a total value of $127,920.00. Following the sale, the chief executive officer owned 178,421 shares in the company, valued at approximately $11,411,807.16. This represents a 1.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $63.29, for a total transaction of $63,290.00. Following the transaction, the chief financial officer directly owned 83,463 shares of the company’s stock, valued at $5,282,373.27. This represents a 1.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,000 shares of company stock worth $502,610 in the last three months. 2.00% of the stock is currently owned by insiders.

About International Seaways

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.