Insider Selling: International Seaways (NYSE:INSW) CFO Sells $81,680.00 in Stock

International Seaways Inc. (NYSE:INSW) CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.68, for a total transaction of $81,680.00. Following the completion of the sale, the chief financial officer directly owned 101,984 shares of the company’s stock, valued at approximately $8,330,053.12. The trade was a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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 transaction of $83,720.00.
• On Wednesday, April 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $74.50, for a total value of $74,500.00.

International Seaways Stock Performance

Shares of INSW stock opened at $84.37 on Friday. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 7.68 and a beta of -0.12. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26. International Seaways Inc. has a 52-week low of $36.03 and a 52-week high of $92.66. The company’s 50 day moving average is $81.39 and its 200 day moving average is $68.00.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. The company had revenue of $325.48 million during 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%. International Seaways’s revenue for the quarter was up 77.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.80 earnings per share. On average, sell-side analysts anticipate that International Seaways Inc. will post 14.99 EPS for the current fiscal year.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. International Seaways’s dividend payout ratio (DPR) is presently 4.37%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price objective on International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a report on Monday, March 9th. Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Benchmark reiterated a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. Wall Street Zen raised shares of International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $100.00 target price on shares of International Seaways in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, International Seaways has a consensus rating of “Buy” and an average price target of $83.50.

Hedge Funds Weigh In On International Seaways

Large investors have recently bought and sold shares of the company. First Horizon Corp boosted its holdings in International Seaways by 121.6% during 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 in the last quarter. Leonteq Securities AG acquired a new position in shares of International Seaways during the 4th quarter worth approximately $44,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of International Seaways in the fourth quarter valued at $46,000. Rockefeller Capital Management L.P. lifted its holdings in International Seaways by 583.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 822 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in International Seaways by 85.0% during the first quarter. Parallel Advisors LLC now owns 1,099 shares of the transportation company’s stock worth $80,000 after acquiring an additional 505 shares during the last quarter. Hedge funds and other institutional investors 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.