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 the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $50.30, for a total value of $100,600.00. Following the sale, the chief executive officer now owns 155,475 shares of the company’s stock, valued at approximately $7,820,392.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

International Seaways Price Performance

Shares of INSW stock opened at $50.96 on Wednesday. The stock has a 50 day moving average of $52.20 and a two-hundred day moving average of $55.39. The company has a current ratio of 3.89, a quick ratio of 3.87 and a debt-to-equity ratio of 0.35. International Seaways, Inc. has a 12 month low of $40.68 and a 12 month high of $65.94. The company has a market capitalization of $2.52 billion, a P/E ratio of 4.76 and a beta of -0.07.

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

International Seaways Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.94%. International Seaways’s payout ratio is presently 4.49%.

Hedge Funds Weigh In On International Seaways

A number of hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new position in shares of International Seaways in the 2nd quarter worth approximately $157,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of International Seaways in the 2nd quarter worth approximately $742,000. Point72 Asset Management L.P. raised its holdings in shares of International Seaways by 75.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 8,600 shares of the transportation company’s stock worth $509,000 after buying an additional 3,700 shares in the last quarter. Quarry LP increased its holdings in International Seaways by 408.0% during the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after purchasing an additional 1,167 shares in the last quarter. Finally, Creative Planning bought a new position in International Seaways in the 2nd quarter valued at $313,000. 67.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on INSW shares. Stifel Nicolaus increased their target price on International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.75.

About International Seaways

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.