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

Greenland Capital Management LP bought a new stake in shares of International Seaways Inc. (NYSE:INSW) during the 3rd quarter, HoldingsChannel reports. The firm bought 17,000 shares of the transportation company’s stock, valued at approximately $783,000.

Several other large investors also recently bought and sold shares of the business. Compound Planning Inc. purchased a new position in International Seaways in the 3rd quarter worth about $621,000. Intrust Bank NA bought a new position in International Seaways during the third quarter valued at approximately $203,000. NewEdge Wealth LLC lifted its position in International Seaways by 17.9% during the third quarter. NewEdge Wealth LLC now owns 15,603 shares of the transportation company’s stock valued at $782,000 after purchasing an additional 2,369 shares during the period. Denali Advisors LLC boosted its holdings in International Seaways by 94.3% in the third quarter. Denali Advisors LLC now owns 48,774 shares of the transportation company’s stock worth $2,248,000 after purchasing an additional 23,674 shares during the last quarter. Finally, Savant Capital LLC bought a new stake in International Seaways in the 3rd quarter worth approximately $306,000. 67.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $63.29, for a total value of $63,290.00. Following the transaction, the chief financial officer owned 83,463 shares of the company’s stock, valued at approximately $5,282,373.27. The trade was a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $63.96, for a total transaction of $127,920.00. Following the transaction, the chief executive officer owned 178,421 shares of the company’s stock, valued at approximately $11,411,807.16. This represents a 1.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 9,000 shares of company stock valued at $502,610. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

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

International Seaways Price Performance

NYSE:INSW opened at $69.74 on Wednesday. The business’s 50-day simple moving average is $56.35 and its two-hundred day simple moving average is $50.98. International Seaways Inc. has a 52 week low of $27.20 and a 52 week high of $69.95. The stock has a market cap of $3.45 billion, a PE ratio of 15.89 and a beta of -0.19. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.26.

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.