Insider Selling: International Seaways, Inc. (NYSE:INSW) SVP Sells 1,000 Shares of Stock

by · The Markets Daily

International Seaways, Inc. (NYSE:INSW – Get Free Report) SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $51.24, for a total value of $51,240.00. Following the completion of the transaction, the senior vice president now owns 52,803 shares in the company, valued at $2,705,625.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

International Seaways Trading Up 2.5 %

NYSE:INSW opened at $54.29 on Friday. The business’s 50-day simple moving average is $51.01 and its 200-day simple moving average is $55.29. International Seaways, Inc. has a fifty-two week low of $40.68 and a fifty-two week high of $65.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.89 and a quick ratio of 3.87. The stock has a market capitalization of $2.68 billion, a PE ratio of 5.07 and a beta of -0.07.

International Seaways (NYSE:INSW – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.13). The company had revenue of $257.40 million during the quarter, compared to the consensus estimate of $256.13 million. International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The company’s revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.12 earnings per share. Sell-side analysts expect that International Seaways, Inc. will post 9.51 earnings per share for the current fiscal year.

International Seaways Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, September 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.88%. International Seaways’s dividend payout ratio is currently 4.49%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Bailard Inc. boosted its position in International Seaways by 2.4% during the 2nd quarter. Bailard Inc. now owns 12,714 shares of the transportation company’s stock worth $752,000 after acquiring an additional 300 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of International Seaways by 62.8% in the second quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock worth $44,000 after purchasing an additional 305 shares in the last quarter. Consolidated Portfolio Review Corp boosted its holdings in International Seaways by 3.9% during the second quarter. Consolidated Portfolio Review Corp now owns 8,328 shares of the transportation company’s stock worth $492,000 after purchasing an additional 312 shares during the last quarter. CWM LLC grew its position in International Seaways by 47.9% in the second quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock valued at $87,000 after purchasing an additional 476 shares in the last quarter. Finally, EdgeRock Capital LLC bought a new position in International Seaways in the second quarter valued at $28,000. 67.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

INSW has been the topic of a number of recent analyst reports. Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Stifel Nicolaus boosted their price objective on shares of International Seaways from $68.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 target price on shares of International Seaways in a report on Wednesday, August 7th. Finally, StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, International Seaways currently has a consensus rating of “Buy” and an average target price of $68.00.

Check Out Our Latest Stock Report on INSW

International Seaways Company Profile

(Get Free Report)

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.

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