William F. Nugent Sells 1,000 Shares of International Seaways, Inc. (NYSE:INSW) Stock

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $39.10, for a total value of $39,100.00. Following the sale, the senior vice president now directly owns 48,803 shares in the company, valued at approximately $1,908,197.30. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

International Seaways Stock Up 5.0 %

NYSE:INSW opened at $40.93 on Wednesday. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 3.95 and a beta of -0.11. International Seaways, Inc. has a one year low of $32.11 and a one year high of $65.94. The stock has a 50-day simple moving average of $37.18 and a 200 day simple moving average of $44.87. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The company had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. During the same period in the previous year, the firm posted $1.99 earnings per share. International Seaways’s quarterly revenue was down 6.8% compared to the same quarter last year. Sell-side analysts predict that International Seaways, Inc. will post 7.82 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on INSW shares. Jefferies Financial Group dropped their target price on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Stifel Nicolaus downgraded International Seaways from a “buy” rating to a “hold” rating and decreased their price target for the stock from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

Hedge Funds Weigh In On International Seaways

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in International Seaways by 4.3% in the third quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock valued at $48,650,000 after acquiring an additional 38,871 shares during the period. FMR LLC boosted its stake in International Seaways by 221.0% in the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock valued at $31,050,000 after acquiring an additional 414,610 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of International Seaways by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock worth $22,205,000 after buying an additional 32,825 shares during the period. Private Management Group Inc. boosted its position in shares of International Seaways by 29.9% during the fourth quarter. Private Management Group Inc. now owns 382,750 shares of the transportation company’s stock worth $13,756,000 after buying an additional 88,007 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of International Seaways by 111.5% during the fourth quarter. Bank of New York Mellon Corp now owns 325,267 shares of the transportation company’s stock worth $11,690,000 after buying an additional 171,498 shares during the period. 67.29% of the stock is currently owned by institutional investors and hedge funds.

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.