Insider Selling: International Seaways, Inc. (NYSE:INSW) SVP Sells $39,100.00 in Stock

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $39.10, for a total transaction of $39,100.00. Following the completion of the sale, the senior vice president now owns 48,803 shares of the company’s stock, valued at approximately $1,908,197.30. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

International Seaways Stock Down 0.6 %

Shares of International Seaways stock opened at $40.67 on Thursday. International Seaways, Inc. has a one year low of $32.11 and a one year high of $65.94. The company has a market cap of $2.00 billion, a P/E ratio of 3.93 and a beta of -0.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The firm has a fifty day moving average of $37.20 and a two-hundred day moving average of $44.84.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.15. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm had revenue of $225.20 million during the quarter, compared to analysts’ expectations of $208.75 million. During the same period in the prior year, the company posted $1.99 earnings per share. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, analysts forecast that International Seaways, Inc. will post 7.82 earnings per share for the current year.

Hedge Funds Weigh In On International Seaways

A number of large investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of International Seaways by 4.3% in the third quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock valued at $48,650,000 after buying an additional 38,871 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in International Seaways in the third quarter valued at $2,161,000. Charles Schwab Investment Management Inc. boosted its position in shares of International Seaways by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock worth $22,205,000 after purchasing an additional 32,825 shares in the last quarter. Barclays PLC grew its stake in shares of International Seaways by 206.3% during the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock worth $13,374,000 after purchasing an additional 174,695 shares during the period. Finally, FMR LLC grew its stake in shares of International Seaways by 221.0% during the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after purchasing an additional 414,610 shares during the period. 67.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus cut shares of International Seaways from a “buy” rating to a “hold” rating and reduced their target price for the company from $69.00 to $56.00 in a report on Wednesday, October 23rd. Jefferies Financial Group dropped their price target on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.67.

About International Seaways

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.