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 firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $34.66, for a total value of $69,320.00. Following the completion of the sale, the chief executive officer now directly owns 179,557 shares in the company, valued at approximately $6,223,445.62. This represents a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

International Seaways Stock Performance

Shares of NYSE INSW traded down $1.45 during mid-day trading on Friday, hitting $33.83. The company had a trading volume of 2,271,950 shares, compared to its average volume of 688,012. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The business's 50-day simple moving average is $36.95 and its 200-day simple moving average is $41.32. International Seaways, Inc. has a 12 month low of $31.70 and a 12 month high of $65.94. The firm has a market cap of $1.66 billion, a P/E ratio of 3.27 and a beta of -0.17.

International Seaways Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Friday, March 14th. International Seaways's payout ratio is presently 5.72%.

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Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On International Seaways

Several hedge funds have recently made changes to their positions in the stock. 111 Capital bought a new stake in shares of International Seaways in the fourth quarter valued at about $293,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in International Seaways by 89.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 109,919 shares of the transportation company's stock worth $3,950,000 after purchasing an additional 51,884 shares during the period. Voloridge Investment Management LLC lifted its stake in International Seaways by 445.5% during the fourth quarter. Voloridge Investment Management LLC now owns 180,566 shares of the transportation company's stock worth $6,490,000 after purchasing an additional 147,468 shares during the period. Vident Advisory LLC lifted its stake in International Seaways by 85.5% during the fourth quarter. Vident Advisory LLC now owns 21,947 shares of the transportation company's stock worth $789,000 after purchasing an additional 10,113 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in International Seaways by 68.1% during the fourth quarter. Squarepoint Ops LLC now owns 118,452 shares of the transportation company's stock worth $4,257,000 after purchasing an additional 48,006 shares during the period. 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.