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

International Seaways, Inc. (NYSE:INSW) CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $58.83, for a total transaction of $58,830.00. Following the sale, the chief financial officer now directly owns 39,849 shares in the company, valued at approximately $2,344,316.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, June 7th, Jeffrey Pribor sold 35,000 shares of International Seaways stock. The shares were sold at an average price of $62.37, for a total transaction of $2,182,950.00.
• On Wednesday, May 1st, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $54.87, for a total value of $54,870.00.

International Seaways Stock Performance

Shares of NYSE INSW opened at $60.19 on Friday. The company has a market cap of $2.97 billion, a PE ratio of 5.63 and a beta of -0.06. The company has a quick ratio of 2.72, a current ratio of 2.73 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average price is $60.40 and its 200-day moving average price is $54.58. International Seaways, Inc. has a 52-week low of $35.51 and a 52-week high of $65.94.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Wednesday, May 8th. The transportation company reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.54. The firm had revenue of $274.40 million for the quarter, compared to the consensus estimate of $249.12 million. International Seaways had a return on equity of 29.74% and a net margin of 49.88%. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the business posted $3.30 EPS. As a group, analysts anticipate that International Seaways, Inc. will post 10.3 EPS for the current year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th were given a dividend of $1.75 per share. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $7.00 annualized dividend and a dividend yield of 11.63%. This is a positive change from International Seaways’s previous quarterly dividend of $1.20. International Seaways’s dividend payout ratio is presently 4.49%.

Analysts Set New Price Targets

A number of research firms have recently commented on INSW. Stifel Nicolaus increased their target price on International Seaways from $66.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. StockNews.com raised shares of International Seaways from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of International Seaways from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $63.75.

Institutional Trading of International Seaways

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INSW. EverSource Wealth Advisors LLC purchased a new stake in International Seaways in the first quarter worth about $27,000. Headlands Technologies LLC increased its holdings in shares of International Seaways by 173.4% in the first quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after purchasing an additional 574 shares during the last quarter. EntryPoint Capital LLC bought a new stake in International Seaways in the 1st quarter worth approximately $108,000. Bfsg LLC purchased a new stake in International Seaways during the fourth quarter valued at $167,000. Finally, U S Global Investors Inc. raised its position in shares of International Seaways by 144.5% during the 4th quarter. U S Global Investors Inc. now owns 4,230 shares of the transportation company’s stock valued at $192,000 after buying an additional 2,500 shares in the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Company Profile

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.