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 firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $81.68, for a total value of $81,680.00. Following the completion of the sale, the chief financial officer owned 101,984 shares in the company, valued at approximately $8,330,053.12. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, May 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $83.72, for a total value of $83,720.00.
• 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.

International Seaways Stock Performance

INSW traded down $0.46 during trading hours on Wednesday, hitting $81.51. The company’s stock had a trading volume of 392,080 shares, compared to its average volume of 575,744. International Seaways Inc. has a fifty-two week low of $36.03 and a fifty-two week high of $92.66. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $4.04 billion, a PE ratio of 7.42 and a beta of -0.12. The company has a 50-day simple moving average of $80.91 and a 200 day simple moving average of $67.47.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, beating the consensus estimate of $2.87 by $1.03. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The firm had revenue of $325.48 million for the quarter, compared to analysts’ expectations of $279.34 million. During the same period last year, the firm earned $0.80 EPS. The firm’s revenue was up 77.5% compared to the same quarter last year. As a group, sell-side analysts expect that International Seaways Inc. will post 14.99 EPS for the current year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, June 12th. International Seaways’s dividend payout ratio (DPR) is currently 4.37%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and set a $100.00 price target on shares of International Seaways in a research report on Friday, May 8th. BTIG Research lifted their price target on International Seaways from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Benchmark reiterated a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings upgraded International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $83.50.

Hedge Funds Weigh In On International Seaways

A number of hedge funds have recently modified their holdings of INSW. First Horizon Corp boosted its position in shares of International Seaways by 121.6% in the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after buying an additional 377 shares during the period. Leonteq Securities AG acquired a new stake in shares of International Seaways in the fourth quarter worth $44,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of International Seaways in the fourth quarter worth $46,000. Rockefeller Capital Management L.P. boosted its position in shares of International Seaways by 583.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after buying an additional 822 shares during the period. Finally, Founders Capital Management boosted its position in shares of International Seaways by 37.5% in the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock worth $53,000 after buying an additional 300 shares during the period. 67.29% of the stock is currently owned by institutional investors and hedge funds.

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.