In a recent transaction, Jeffrey Pribor, the Senior Vice President and Chief Financial Officer of International Seaways, Inc. (NYSE:INSW), sold 16,000 shares of the company's common stock. The sale, which took place on March 13, 2024, amounted to a total of $825,363, with the shares sold at a weighted average price of $51.5852 each.
The transaction was executed in multiple trades with prices ranging from $51.19 to $51.93. Following the sale, Pribor still holds a total of 67,956 shares in the company, indicating continued investment in International Seaways' future.
International Seaways, Inc., which operates in the water transportation sector, has seen its stock price fluctuate in recent times, and transactions of this nature are closely watched by investors for indications of executives' confidence in their companies.
The company and Pribor have agreed to provide full information regarding the specific numbers of shares sold and the prices at which the transactions were effected upon request to the SEC staff, the issuer, or a security holder of the issuer.
Investors often monitor the buying and selling activities of company executives as these transactions can provide insights into their perspective on the company's current valuation and future prospects.
InvestingPro Insights
Amid the recent news of insider selling by Jeffrey Pribor, International Seaways, Inc.'s (NYSE:INSW) financials and market performance provide a broader context for investors. With a market capitalization of $2.54 billion and a strikingly low P/E ratio of 4.61, INSW is positioned as a value play in the water transportation sector. The company's P/E ratio has slightly adjusted to 4.82 over the last twelve months as of Q4 2023, which still underscores a potentially undervalued stock relative to near-term earnings growth.
International Seaways has demonstrated a robust financial performance with a revenue growth of 23.95% in the last twelve months as of Q4 2023. Moreover, the company boasts a high gross profit margin of 70.59%, reflecting its efficiency in maintaining profitability amidst operational costs. Investors should also note the company's significant dividend yield of 10.77%, a testament to its commitment to returning value to shareholders, as highlighted by one of the InvestingPro Tips that INSW has raised its dividend for four consecutive years.
For those seeking stability, INSW's stock generally trades with low price volatility, an InvestingPro Tip that might appeal to risk-averse investors. Additionally, the stock has experienced a strong return of 19.78% over the last three months, suggesting a positive trend in investor sentiment. With analysts predicting profitability for the year and an InvestingPro Fair Value estimate of $64.48, further upside potential might be on the horizon.
Investors interested in a deeper dive into International Seaways' performance and prospects can explore additional InvestingPro Tips, which offer comprehensive analyses and forecasts. For instance, there are 13 more tips available on InvestingPro, providing valuable insights for a well-rounded investment decision. To access these insights and more, visit InvestingPro and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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