World Kinect Corporation $WKC Shares Sold by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC has reduced its stake in World Kinect Corporation by 41.8% to approximately $5.51 million, owning 194,380 shares after selling 139,399 shares in Q1.
• World Kinect's stock price is currently down 1.8%, with a market capitalization of $1.44 billion, and a recent earnings report showing $0.59 earnings per share.
• Equities analysts have mixed ratings on World Kinect, with target prices ranging from $26.00 to $33.00, and a consensus rating of "Reduce."

Great Lakes Advisors LLC reduced its holdings in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 41.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 194,380 shares of the company's stock after selling 139,399 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.34% of World Kinect worth $5,513,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in WKC. Millennium Management LLC boosted its position in shares of World Kinect by 639.9% during the 4th quarter. Millennium Management LLC now owns 508,959 shares of the company's stock worth $14,001,000 after acquiring an additional 440,168 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of World Kinect by 263.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 573,716 shares of the company's stock worth $16,271,000 after acquiring an additional 415,837 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of World Kinect by 311.1% during the 4th quarter. Two Sigma Investments LP now owns 260,864 shares of the company's stock worth $7,176,000 after acquiring an additional 384,413 shares in the last quarter. LSV Asset Management boosted its position in shares of World Kinect by 29.0% during the 1st quarter. LSV Asset Management now owns 1,550,042 shares of the company's stock worth $43,959,000 after acquiring an additional 348,214 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of World Kinect by 118.7% during the 4th quarter. Ameriprise Financial Inc. now owns 631,698 shares of the company's stock worth $17,378,000 after acquiring an additional 342,823 shares in the last quarter. 97.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Raymond James Financial reaffirmed an "outperform" rating and set a $33.00 price objective (down from $35.00) on shares of World Kinect in a research report on Friday, August 1st. Morgan Stanley decreased their target price on World Kinect from $32.00 to $26.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $29.40.

World Kinect Price Performance

NYSE WKC traded down $0.03 during mid-day trading on Monday, hitting $25.35. The stock had a trading volume of 113,560 shares, compared to its average volume of 709,568. The company has a 50 day simple moving average of $26.97 and a 200 day simple moving average of $27.02. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -3.32, a P/E/G ratio of 1.15 and a beta of 1.38. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 0.48. World Kinect Corporation has a 52-week low of $22.70 and a 52-week high of $31.70.

World Kinect (NYSE:WKC - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.11. The firm had revenue of $9.04 billion for the quarter, compared to analysts' expectations of $9.32 billion. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%. Equities analysts forecast that World Kinect Corporation will post 2.56 EPS for the current fiscal year.

World Kinect Profile

World Kinect Corporation operates as an energy management company in the United States, the Americas, Europe, the Middle East, Africa, and the Asia Pacific. This segment also offers fuel management, price risk management, ground handling, dispatch services, and trip planning services, such as flight planning and scheduling, weather reports and overflight permits; payment and processing services; and operates a web-based marketplace platform.