International Seaways (NYSE:INSW) CEO Sells $127,920.00 in Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $63.96, for a total transaction of $127,920.00. Following the completion of the sale, the chief executive officer directly owned 178,421 shares of the company’s stock, valued at approximately $11,411,807.16. The trade was a 1.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

International Seaways Stock Up 1.1%

Shares of NYSE:INSW traded up $0.73 on Wednesday, reaching $65.15. The company had a trading volume of 672,294 shares, compared to its average volume of 539,994. The stock has a market capitalization of $3.22 billion, a P/E ratio of 14.84 and a beta of -0.19. The stock has a 50-day moving average price of $54.50 and a 200 day moving average price of $50.12. International Seaways Inc. has a twelve month low of $27.20 and a twelve month high of $66.68. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.26.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Tuesday, January 20th. Wall Street Zen lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a research note on Thursday, January 22nd. Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, BTIG Research lifted their price target on International Seaways from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.67.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp boosted its stake in shares of International Seaways by 41.4% in the 4th quarter. Mackenzie Financial Corp now owns 19,760 shares of the transportation company’s stock valued at $954,000 after purchasing an additional 5,783 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in International Seaways by 416.1% during the 4th quarter. NewEdge Advisors LLC now owns 10,807 shares of the transportation company’s stock valued at $525,000 after purchasing an additional 8,713 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in International Seaways in the fourth quarter valued at about $46,000. Tudor Investment Corp ET AL acquired a new position in International Seaways in the fourth quarter valued at about $7,087,000. Finally, Millennium Management LLC grew its stake in International Seaways by 13.4% during the fourth quarter. Millennium Management LLC now owns 90,262 shares of the transportation company’s stock worth $4,382,000 after buying an additional 10,691 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

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.