Villanova Investment Management Co LLC Decreases Holdings in World Kinect Corporation $WKC

Key Points

• Villanova Investment Management Co LLC significantly reduced its holdings in World Kinect Corporation by 64.8%, selling 54,980 shares and retaining only 29,889 shares.
• In the first quarter, several institutional investors, including PNC Financial Services Group Inc. and AlphaQuest LLC, increased their stakes in World Kinect, highlighting ongoing interest in the company.
• World Kinect reported earnings surpassing analyst expectations with an EPS of $0.59, but its revenue fell short at $9.04 billion, below the estimated $9.32 billion.

Villanova Investment Management Co LLC decreased its holdings in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 64.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,889 shares of the company's stock after selling 54,980 shares during the quarter. World Kinect comprises approximately 2.4% of Villanova Investment Management Co LLC's holdings, making the stock its 9th largest position. Villanova Investment Management Co LLC owned about 0.05% of World Kinect worth $848,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of World Kinect in the 1st quarter worth approximately $32,000. Quarry LP bought a new stake in shares of World Kinect in the 1st quarter worth approximately $38,000. PNC Financial Services Group Inc. lifted 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 acquiring an additional 2,925 shares during the period. AlphaQuest LLC lifted 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 acquiring an additional 5,693 shares during the period. Finally, EP Wealth Advisors LLC raised its holdings in shares of World Kinect by 17.0% in the 4th quarter. EP Wealth Advisors LLC now owns 7,604 shares of the company's stock worth $209,000 after buying an additional 1,104 shares in the last quarter. Institutional investors own 97.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley dropped their target price on World Kinect from $32.00 to $26.00 and set an "underweight" rating for the company in a report on Wednesday, August 6th. Raymond James Financial reissued an "outperform" rating and issued a $33.00 target price (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 assigned a Sell rating to the company. According to data from MarketBeat.com, World Kinect presently has an average rating of "Reduce" and an average price target of $29.40.

World Kinect Price Performance

WKC stock traded down $0.50 during midday trading on Friday, reaching $25.40. 469,199 shares of the company's stock traded hands, compared to its average volume of 712,724. The company has a 50-day simple moving average of $26.97 and a two-hundred day simple moving average of $27.04. World Kinect Corporation has a 1-year low of $22.70 and a 1-year high of $31.70. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -3.33, a PEG 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 released its quarterly earnings results on Thursday, July 31st. The company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.11. The firm had revenue of $9.04 billion during 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%. On average, analysts anticipate that World Kinect Corporation will post 2.56 earnings per share for the current 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.