International Seaways (NYSE:INSW) CEO Lois Zabrocky Sells 2,000 Shares

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $63.96, for a total value of $127,920.00. Following the sale, the chief executive officer owned 178,421 shares in the company, valued at approximately $11,411,807.16. This trade represents a 1.11% 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.

International Seaways Price Performance

INSW traded up $0.73 during midday trading on Wednesday, hitting $65.15. The company had a trading volume of 672,294 shares, compared to its average volume of 539,994. International Seaways Inc. has a twelve month low of $27.20 and a twelve month high of $66.68. The company has a market capitalization of $3.22 billion, a PE ratio of 14.84 and a beta of -0.19. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.75. The firm’s 50-day simple moving average is $54.50 and its 200-day simple moving average is $50.12.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings reissued 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 research note on Tuesday, January 20th. BTIG Research raised their target price on International Seaways from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Wall Street Zen downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Zacks Research lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

Institutional Investors Weigh In On International Seaways

Several large investors have recently made changes to their positions in INSW. Mackenzie Financial Corp raised its holdings in shares of International Seaways by 41.4% during the fourth quarter. Mackenzie Financial Corp now owns 19,760 shares of the transportation company’s stock worth $954,000 after acquiring an additional 5,783 shares during the period. NewEdge Advisors LLC increased its holdings in International Seaways by 416.1% during the 4th quarter. NewEdge Advisors LLC now owns 10,807 shares of the transportation company’s stock worth $525,000 after purchasing an additional 8,713 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in shares of International Seaways in the 4th quarter valued at about $46,000. Tudor Investment Corp ET AL bought a new stake in shares of International Seaways in the fourth quarter valued at about $7,087,000. Finally, Millennium Management LLC boosted its position in shares of International Seaways by 13.4% during the fourth quarter. Millennium Management LLC now owns 90,262 shares of the transportation company’s stock worth $4,382,000 after buying an additional 10,691 shares during the period. Institutional investors own 67.29% of the company’s stock.

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.