GSA Capital Partners LLP Purchases New Position in World Kinect Co. (NYSE:WKC)

GSA Capital Partners LLP purchased a new stake in World Kinect Co. (NYSE:WKC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 64,395 shares of the company’s stock, valued at approximately $1,990,000. GSA Capital Partners LLP owned approximately 0.11% of World Kinect as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in World Kinect in the 2nd quarter worth about $65,000. Hara Capital LLC acquired a new stake in World Kinect in the 3rd quarter worth about $76,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in World Kinect by 20.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,927 shares of the company’s stock worth $179,000 after buying an additional 1,189 shares during the last quarter. Privium Fund Management UK Ltd acquired a new stake in World Kinect in the 2nd quarter worth about $208,000. Finally, Everence Capital Management Inc. acquired a new stake in World Kinect in the 3rd quarter worth about $210,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Wall Street Analysts Forecast Growth

WKC has been the topic of several research analyst reports. Stifel Nicolaus cut World Kinect from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $33.00 to $32.00 in a report on Friday, October 25th. Bank of America boosted their target price on World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a report on Friday, September 13th. Morgan Stanley cut World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 target price on the stock. in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. boosted their target price on World Kinect from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.20.

World Kinect Trading Down 0.7 %

Shares of World Kinect stock opened at $28.14 on Wednesday. World Kinect Co. has a 1-year low of $19.81 and a 1-year high of $31.70. The stock has a market cap of $1.63 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.09 and a beta of 1.26. The stock’s 50 day simple moving average is $29.38 and its 200-day simple moving average is $27.22. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99.

World Kinect (NYSE:WKC) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.62 EPS for the quarter, meeting analysts’ consensus estimates of $0.62. World Kinect had a return on equity of 6.29% and a net margin of 0.30%. The firm had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same period in the prior year, the firm posted $0.58 earnings per share. The firm’s quarterly revenue was down 14.3% on a year-over-year basis. Analysts predict that World Kinect Co. will post 2.12 EPS for the current fiscal year.

World Kinect Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Monday, September 30th. World Kinect’s dividend payout ratio is presently 30.22%.

World Kinect announced that its Board of Directors has initiated a share repurchase plan on Monday, September 9th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 11% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at World Kinect

In related news, CEO Michael J. Kasbar sold 58,948 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.92, for a total value of $1,645,828.16. Following the transaction, the chief executive officer now directly owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.90% of the stock is currently owned by insiders.

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.