Insider Selling: International Seaways, Inc. (NYSE:INSW) CEO Sells 2,000 Shares of Stock

International Seaways, Inc. (NYSE:INSW - Get Free Report) CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $31.66, for a total transaction of $63,320.00. Following the transaction, the chief executive officer now directly owns 198,771 shares of the company's stock, valued at approximately $6,293,089.86. This trade represents a 1.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

International Seaways Price Performance

Shares of NYSE INSW traded up $1.37 during mid-day trading on Friday, reaching $33.31. 581,436 shares of the company traded hands, compared to its average volume of 743,345. International Seaways, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $65.94. The firm has a market cap of $1.64 billion, a PE ratio of 3.22 and a beta of -0.01. The stock has a fifty day simple moving average of $34.05 and a 200-day simple moving average of $38.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60.

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Friday, March 14th. International Seaways's payout ratio is 5.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group reaffirmed a "buy" rating and set a $58.00 price target on shares of International Seaways in a report on Thursday, February 27th. SEB Equity Research set a $50.00 price target on International Seaways in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $57.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of International Seaways by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company's stock valued at $48,650,000 after acquiring an additional 38,871 shares in the last quarter. Barclays PLC increased 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 last quarter. Nisa Investment Advisors LLC raised its holdings in shares of International Seaways by 1,677.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 110,945 shares of the transportation company's stock valued at $3,987,000 after purchasing an additional 104,704 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in International Seaways in the fourth quarter worth $804,000. Finally, Thrivent Financial for Lutherans bought a new stake in International Seaways in the fourth quarter worth $1,121,000. Institutional investors own 67.29% of the company's stock.

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.