Insider Selling: International Seaways, Inc. (NYSE:INSW) CEO Sells 2,000 Shares of Stock

International Seaways, Inc. (NYSE:INSW) CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $49.22, for a total value of $98,440.00. Following the sale, the chief executive officer now directly owns 153,475 shares of the company’s stock, valued at $7,554,039.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

International Seaways Stock Up 0.1 %

INSW stock opened at $49.08 on Friday. The company has a market cap of $2.42 billion, a PE ratio of 4.59 and a beta of -0.08. The business has a 50-day simple moving average of $50.72 and a 200 day simple moving average of $55.19. International Seaways, Inc. has a 52 week low of $42.08 and a 52 week high of $65.94. The company has a quick ratio of 3.87, a current ratio of 3.89 and a debt-to-equity ratio of 0.35.

International Seaways (NYSE:INSW) last issued its earnings results on Wednesday, August 7th. The transportation company reported $2.37 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.13). The business had revenue of $257.40 million for the quarter, compared to analyst estimates of $256.13 million. International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The firm’s revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.12 EPS. Sell-side analysts anticipate that International Seaways, Inc. will post 9.51 EPS for the current fiscal year.

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Wednesday, September 11th. International Seaways’s payout ratio is 4.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on INSW shares. Fearnley Fonds raised International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $66.00 price target on shares of International Seaways in a research note on Wednesday, August 7th. Stifel Nicolaus boosted their price target on International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $68.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC acquired a new position in International Seaways during the first quarter worth about $27,000. EdgeRock Capital LLC acquired a new position in International Seaways during the second quarter worth about $28,000. Headlands Technologies LLC grew its holdings in shares of International Seaways by 173.4% during the first quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after purchasing an additional 574 shares during the last quarter. Quarry LP raised its holdings in International Seaways by 408.0% in the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after buying an additional 1,167 shares during the last quarter. Finally, CWM LLC raised its holdings in International Seaways by 47.9% in the 2nd quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock valued at $87,000 after buying an additional 476 shares during the last quarter. Institutional investors and hedge funds own 67.29% 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.