Jeffrey Pribor Sells 1,000 Shares of International Seaways (NYSE:INSW) Stock

International Seaways Inc. (NYSE:INSW) CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $53.58, for a total value of $53,580.00. Following the sale, the chief financial officer owned 71,734 shares in the company, valued at $3,843,507.72. This represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Jeffrey Pribor also recently made the following trade(s):

• On Wednesday, October 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $44.00, for a total value of $44,000.00.
• On Monday, September 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $48.27, for a total transaction of $48,270.00.
• On Friday, August 22nd, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $44.69, for a total transaction of $44,690.00.

International Seaways Stock Down 1.7%

NYSE INSW traded down $0.92 during trading hours on Wednesday, reaching $53.76. 415,908 shares of the company traded hands, compared to its average volume of 690,725. The stock has a market capitalization of $2.66 billion, a PE ratio of 11.18 and a beta of -0.02. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. International Seaways Inc. has a 12 month low of $27.20 and a 12 month high of $54.95. The company has a 50 day moving average of $48.32 and a two-hundred day moving average of $43.01.

International Seaways (NYSE:INSW) last released its earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share for the quarter. International Seaways had a return on equity of 11.35% and a net margin of 29.88%.The company had revenue of $84.82 million during the quarter. As a group, equities analysts expect that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 9th. This represents a $0.48 annualized dividend and a yield of 0.9%. International Seaways’s dividend payout ratio is presently 10.93%.

Hedge Funds Weigh In On International Seaways

Several institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. lifted its holdings in shares of 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 purchasing an additional 378 shares during the last quarter. Advisory Services Network LLC bought a new position in International Seaways during the 3rd quarter worth $53,000. Picton Mahoney Asset Management acquired a new stake in International Seaways in the first quarter worth $55,000. EverSource Wealth Advisors LLC lifted its stake in International Seaways by 601.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock valued at $55,000 after buying an additional 1,293 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in International Seaways by 550.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,822 shares of the transportation company’s stock valued at $60,000 after buying an additional 1,542 shares during the last quarter. 67.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on INSW. Pareto Securities lowered International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. BTIG Research reduced their price objective on International Seaways from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.67.

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.