Trexquant Investment LP bought a new position in shares of World Kinect Corporation (NYSE:WKC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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.
Several other institutional investors have also recently made changes to their positions in WKC. Northern Trust Corp raised its holdings in shares of World Kinect by 6.2% during the fourth quarter. Northern Trust Corp now owns 702,751 shares of the company's stock worth $19,333,000 after purchasing an additional 41,227 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in World Kinect during the fourth quarter valued at $632,000. Jane Street Group LLC acquired a new stake in World Kinect during the fourth quarter valued at $3,739,000. Ameriprise Financial Inc. grew its position in World Kinect by 118.7% during the fourth quarter. Ameriprise Financial Inc. now owns 631,698 shares of the company's stock valued at $17,378,000 after buying an additional 342,823 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in World Kinect during the fourth quarter valued at $4,884,000. Hedge funds and other institutional investors own 97.06% of the company's stock.
Analyst Upgrades and Downgrades
WKC has been the topic of several analyst reports. Raymond James Financial restated an "outperform" rating and set a $33.00 price target (down previously from $35.00) on shares of World Kinect in a research report on Friday, August 1st. Morgan Stanley dropped their price target on shares of World Kinect from $32.00 to $26.00 and set an "underweight" rating on the stock in a research report on Wednesday, August 6th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $29.40.
Read Our Latest Stock Report on WKC
World Kinect Price Performance
Shares of NYSE WKC traded down $0.50 during trading on Friday, hitting $25.40. The company had a trading volume of 469,199 shares, compared to its average volume of 712,724. The stock has a fifty day simple moving average of $26.97 and a two-hundred day simple moving average of $27.06. World Kinect Corporation has a fifty-two week low of $22.70 and a fifty-two week high of $31.70. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -3.33, a price-to-earnings-growth ratio of 1.17 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 (NYSE:WKC - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.11. World Kinect had a negative net margin of 1.11% and a positive return on equity of 7.07%. The business had revenue of $9.04 billion for the quarter, compared to analyst estimates of $9.32 billion. On average, research analysts expect that World Kinect Corporation will post 2.56 earnings per share for the current year.
About World Kinect
(
Free Report)
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.
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