International Seaways (NYSE:INSW) CFO Sells $83,720.00 in Stock

Key Points

• International Seaways CFO Jeffrey Pribor sold 1,000 shares on May 15 at an average price of $83.72, totaling $83,720. After the sale, he still held 102,984 shares, worth about $8.62 million.
• The stock rose 1.0% to $85.40 in Monday trading and has climbed near its 52-week high of $92.66. International Seaways also has a low debt load and strong liquidity, with a quick ratio of 7.28 and a current ratio of 7.34.
• The company beat earnings and revenue expectations in its latest quarterly report, posting $3.90 EPS versus $2.87 expected and revenue of $325.48 million versus $279.34 million expected. It also announced a quarterly dividend of $0.12 per share, payable June 26.

International Seaways Inc. (NYSE:INSW - Get Free Report) CFO Jeffrey Pribor sold 1,000 shares of the firm's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $83.72, for a total transaction of $83,720.00. Following the sale, the chief financial officer directly owned 102,984 shares in the company, valued at $8,621,820.48. This represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 transaction of $74,500.00.
• On Monday, March 16th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $66.50, for a total transaction of $66,500.00.
• On Tuesday, February 17th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $63.29, for a total transaction of $63,290.00.

International Seaways Stock Up 1.0%

Shares of NYSE INSW traded up $0.82 during trading on Monday, reaching $85.40. 454,696 shares of the stock were exchanged, compared to its average volume of 595,545. International Seaways Inc. has a twelve month low of $35.60 and a twelve month high of $92.66. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 7.78 and a beta of -0.09. The business's 50-day moving average price is $76.55 and its 200 day moving average price is $63.22.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $1.03. The business had revenue of $325.48 million for the quarter, compared to analyst estimates of $279.34 million. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The business's revenue was up 77.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 EPS. As a group, equities analysts forecast that International Seaways Inc. will post 14.99 EPS for the current fiscal year.

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a $0.12 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.48 annualized dividend and a yield of 0.6%. International Seaways's dividend payout ratio is 4.37%.

Hedge Funds Weigh In On International Seaways

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of International Seaways by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company's stock valued at $31,013,000 after buying an additional 12,188 shares in the last quarter. TrueMark Investments LLC purchased a new position in shares of International Seaways during the fourth quarter valued at $1,404,000. Assenagon Asset Management S.A. purchased a new position in shares of International Seaways during the fourth quarter valued at $910,000. SG Americas Securities LLC grew its holdings in shares of International Seaways by 123.4% during the fourth quarter. SG Americas Securities LLC now owns 34,276 shares of the transportation company's stock valued at $1,664,000 after buying an additional 18,935 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of International Seaways during the fourth quarter valued at $709,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on INSW shares. Pareto Securities downgraded International Seaways from a "buy" rating to a "hold" rating in a research note on Monday. Weiss Ratings raised International Seaways from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. Wall Street Zen raised International Seaways from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 13th. Jefferies Financial Group reaffirmed a "buy" rating and set a $100.00 target price on shares of International Seaways in a research note on Friday, May 8th. Finally, Benchmark reaffirmed a "buy" rating on shares of International Seaways in a research note on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $83.50.

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.

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