William F. Nugent Sells 1,000 Shares of International Seaways, Inc. (NYSE:INSW) Stock

International Seaways, Inc. (NYSE:INSW - Get Free Report) SVP William F. Nugent sold 1,000 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $39.10, for a total value of $39,100.00. Following the completion of the sale, the senior vice president now directly owns 48,803 shares of the company's stock, valued at $1,908,197.30. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

International Seaways Stock Performance

Shares of NYSE:INSW traded down $0.29 during midday trading on Friday, reaching $39.36. The company had a trading volume of 507,310 shares, compared to its average volume of 985,236. The stock has a market cap of $1.94 billion, a P/E ratio of 3.80 and a beta of -0.11. The company's 50 day moving average price is $37.21 and its 200 day moving average price is $44.80. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 52-week low of $32.11 and a 52-week high of $65.94.

International Seaways (NYSE:INSW - Get Free Report) last released its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.15. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm had revenue of $225.20 million for the quarter, compared to analysts' expectations of $208.75 million. During the same period in the previous year, the company earned $1.99 earnings per share. The company's quarterly revenue was down 6.8% on a year-over-year basis. As a group, sell-side analysts anticipate that International Seaways, Inc. will post 7.82 EPS for the current fiscal year.

Hedge Funds Weigh In On International Seaways

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INSW. FMR LLC grew its position in International Seaways by 221.0% during the third quarter. FMR LLC now owns 602,213 shares of the transportation company's stock worth $31,050,000 after buying an additional 414,610 shares in the last quarter. Empowered Funds LLC boosted its position in shares of International Seaways by 470.8% during the 4th quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company's stock valued at $9,813,000 after acquiring an additional 225,196 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of International Seaways by 685.6% during the fourth quarter. Principal Financial Group Inc. now owns 224,544 shares of the transportation company's stock worth $8,070,000 after purchasing an additional 195,961 shares in the last quarter. Barclays PLC increased its position in shares of International Seaways by 206.3% in the third 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. Finally, Bank of New York Mellon Corp raised its stake in International Seaways by 111.5% in the fourth quarter. Bank of New York Mellon Corp now owns 325,267 shares of the transportation company's stock valued at $11,690,000 after purchasing an additional 171,498 shares in the last quarter. Institutional investors own 67.29% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on INSW. Jefferies Financial Group cut their price target on shares of International Seaways from $66.00 to $60.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Stifel Nicolaus downgraded International Seaways from a "buy" rating to a "hold" rating and cut their target price for the stock from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Two investment 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 company's stock. According to MarketBeat, International Seaways has a consensus rating of "Moderate Buy" and an average price target of $60.67.

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.