International Seaways, Inc. (NYSE:INSW – Get Free Report) CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction dated Monday, January 15th. The shares were sold at an average price of $41.28, for a total transaction of $82,560.00. Following the sale, the chief executive officer now directly owns 147,045 shares of the company’s stock, valued at approximately $6,070,017.60. This represents a 1.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
International Seaways Stock Performance
INSW opened at $39.39 on Friday. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $38.23 and its 200-day moving average is $46.84. The stock has a market cap of $1.94 billion, a PE ratio of 3.81 and a beta of -0.10. International Seaways, Inc. has a twelve month low of $32.11 and a twelve month high of $65.94.
International Seaways (NYSE:INSW – Get Free Report) last announced its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The firm had revenue of $225.20 million for the quarter, compared to the consensus estimate of $208.75 million. During the same quarter in the previous year, the business earned $1.99 EPS. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, analysts predict that International Seaways, Inc. will post 7.92 earnings per share for the current year.
International Seaways Increases Dividend
Hedge Funds Weigh In On International Seaways
Several large investors have recently bought and sold shares of the stock. Blue Trust Inc. bought a new position in shares of International Seaways in the third quarter valued at approximately $41,000. EverSource Wealth Advisors LLC lifted its position in 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 during the period. Sunbelt Securities Inc. bought a new position in International Seaways during the 3rd quarter valued at $52,000. KBC Group NV increased its position in shares of International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 428 shares during the period. Finally, Quarry LP raised its stake in shares of International Seaways by 408.0% in the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after buying an additional 1,167 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.
Analyst Upgrades and Downgrades
INSW has been the subject of several recent research reports. Fearnley Fonds raised International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Jefferies Financial Group lowered their price objective on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Finally, Stifel Nicolaus cut International Seaways from a “buy” rating to a “hold” rating and cut their target price for the company from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.67.
View Our Latest Stock Analysis on INSW
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.
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