Jeffrey Pribor Sells 1,000 Shares of International Seaways (NYSE:INSW) Stock

Key Points

• CFO Jeffrey Pribor sold 1,000 INSW shares on April 15 at $74.50 (~$74,500), trimming his holding to 103,984 shares (a 0.95% decrease); he also sold 1,000 shares in March and February.
• International Seaways posted a strong quarter with $2.45 EPS vs. $1.75 consensus and revenue up 37.7% YoY; the stock trades near $76.50, while analysts hold a consensus "Buy" with a $68 price target after multiple upgrades.

International Seaways Inc. (NYSE:INSW - Get Free Report) CFO Jeffrey Pribor sold 1,000 shares of the company's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $74.50, for a total transaction of $74,500.00. Following the transaction, the chief financial officer owned 103,984 shares in the company, valued at approximately $7,746,808. This trade represents a 0.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, March 16th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was 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 stock was sold at an average price of $63.29, for a total transaction of $63,290.00.

International Seaways Price Performance

Shares of International Seaways stock traded up $0.87 during midday trading on Friday, reaching $76.50. The company had a trading volume of 517,390 shares, compared to its average volume of 590,112. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 12.28 and a beta of -0.23. The stock has a fifty day simple moving average of $70.34 and a 200 day simple moving average of $57.81. International Seaways Inc. has a 1-year low of $31.49 and a 1-year high of $78.51.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.70. The firm had revenue of $267.88 million during the quarter, compared to analysts' expectations of $245.29 million. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. International Seaways's revenue was up 37.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 EPS. As a group, equities research analysts forecast that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Friday, March 20th were issued a $0.12 dividend. The ex-dividend date was Friday, March 20th. This represents a $0.48 annualized dividend and a yield of 0.6%. International Seaways's dividend payout ratio (DPR) is currently 7.70%.

Institutional Investors Weigh In On International Seaways

Several institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its holdings in International Seaways by 42.0% during the first quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company's stock worth $311,000 after buying an additional 2,768 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in International Seaways by 3.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company's stock worth $800,000 after buying an additional 900 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in International Seaways by 16.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company's stock worth $4,264,000 after buying an additional 18,509 shares during the last quarter. Prudential Financial Inc. bought a new position in International Seaways during the second quarter worth about $223,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in International Seaways during the second quarter worth about $1,626,000. Institutional investors and hedge funds own 67.29% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on INSW. Deutsche Bank Aktiengesellschaft boosted their price objective on International Seaways from $63.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, March 9th. Zacks Research upgraded shares of International Seaways from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 2nd. Benchmark reiterated a "buy" rating on shares of International Seaways in a research report on Thursday, February 26th. BTIG Research lifted their price target on shares of International Seaways from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Finally, Wall Street Zen upgraded shares of International Seaways from a "buy" rating to a "strong-buy" rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $68.00.

About International Seaways

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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