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 the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $83.72, for a total value of $83,720.00. Following the transaction, the chief financial officer owned 102,984 shares of the company’s stock, valued at approximately $8,621,820.48. This represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, April 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $74.50, for a total value of $74,500.00.
• On Monday, March 16th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $66.50, for a total value of $66,500.00.
• On Tuesday, February 17th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $63.29, for a total value of $63,290.00.

International Seaways Trading Down 2.2%

NYSE:INSW opened at $83.42 on Wednesday. International Seaways Inc. has a 1 year low of $35.60 and a 1 year high of $92.66. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 7.60 and a beta of -0.09. The business has a fifty day moving average of $76.77 and a 200-day moving average of $63.45. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. The business had revenue of $325.48 million for the quarter, compared to analysts’ expectations of $279.34 million. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The company’s revenue was up 77.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 earnings per share. Equities analysts predict that International Seaways Inc. will post 14.99 earnings per share for the current year.

International Seaways Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, June 12th. International Seaways’s payout ratio is 4.37%.

Wall Street Analysts Forecast Growth

INSW has been the subject of several recent analyst reports. Zacks Research cut shares of International Seaways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Benchmark restated a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Weiss Ratings raised International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a research report on Monday. Finally, BTIG Research boosted their price objective on International Seaways from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.50.

Hedge Funds Weigh In On International Seaways

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in International Seaways by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock worth $31,013,000 after buying an additional 12,188 shares during the last quarter. TrueMark Investments LLC acquired a new stake in shares of International Seaways during the 4th quarter valued at $1,404,000. Assenagon Asset Management S.A. bought a new stake in shares of International Seaways during the 4th quarter worth $910,000. SG Americas Securities LLC boosted its stake in shares of International Seaways by 123.4% during the 4th quarter. SG Americas Securities LLC now owns 34,276 shares of the transportation company’s stock worth $1,664,000 after acquiring an additional 18,935 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of International Seaways in the 4th quarter worth $709,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Company Profile

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.