Trexquant Investment LP Buys New Shares in World Kinect Corporation $WKC

Key Points

• Trexquant Investment LP acquired a new position in World Kinect Corporation, purchasing 32,435 shares valued at approximately $920,000, representing 0.06% ownership at the end of the last reporting period.
• World Kinect's stock has shown volatility with a 12-month low of $22.70 and a high of $31.70, while currently trading at $26.58.
• Analysts have mixed opinions on World Kinect, with variations in price targets; Morgan Stanley set an underweight rating with a target of $26, while Raymond James maintained an outperform rating with a target of $33.

Trexquant Investment LP purchased a new position in World Kinect Corporation (NYSE:WKC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 32,435 shares of the company's stock, valued at approximately $920,000. Trexquant Investment LP owned about 0.06% of World Kinect at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of World Kinect in the 1st quarter worth about $32,000. PNC Financial Services Group Inc. raised its position in shares of World Kinect by 86.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,307 shares of the company's stock worth $179,000 after purchasing an additional 2,925 shares during the last quarter. AlphaQuest LLC raised its position in shares of World Kinect by 576.8% in the 1st quarter. AlphaQuest LLC now owns 6,680 shares of the company's stock worth $189,000 after purchasing an additional 5,693 shares during the last quarter. EP Wealth Advisors LLC boosted its position in shares of World Kinect by 17.0% during the fourth quarter. EP Wealth Advisors LLC now owns 7,604 shares of the company's stock valued at $209,000 after buying an additional 1,104 shares during the last quarter. Finally, Eukles Asset Management boosted its position in shares of World Kinect by 17.6% during the first quarter. Eukles Asset Management now owns 7,800 shares of the company's stock valued at $221,000 after buying an additional 1,165 shares during the last quarter. Hedge funds and other institutional investors own 97.06% of the company's stock.

Analysts Set New Price Targets

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

World Kinect Stock Performance

World Kinect stock traded down $0.56 during mid-day trading on Wednesday, reaching $25.38. 790,457 shares of the stock traded hands, compared to its average volume of 714,109. The stock has a market capitalization of $1.41 billion, a PE ratio of -3.33, a price-to-earnings-growth ratio of 1.20 and a beta of 1.38. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.13 and a quick ratio of 0.98. World Kinect Corporation has a 12-month low of $22.70 and a 12-month high of $31.70. The business's 50-day moving average is $27.21 and its 200-day moving average is $27.13.

World Kinect (NYSE:WKC - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.11. The company had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $9.32 billion. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%. As a group, sell-side analysts predict 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.