Walleye Capital LLC Grows Stake in Kirby Co. (NYSE:KEX)

Walleye Capital LLC raised its position in Kirby Co. (NYSE:KEX - Free Report) by 54.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 20,836 shares of the shipping company's stock after buying an additional 7,381 shares during the period. Walleye Capital LLC's holdings in Kirby were worth $2,551,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in KEX. Farther Finance Advisors LLC grew its holdings in Kirby by 420.0% during the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company's stock worth $25,000 after purchasing an additional 168 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Kirby during the second quarter worth $26,000. ORG Wealth Partners LLC acquired a new position in shares of Kirby during the third quarter worth $30,000. ORG Partners LLC acquired a new position in shares of Kirby during the second quarter worth $32,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Kirby during the second quarter worth $33,000. 96.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Kirby

In related news, COO Christian G. O'neil sold 15,041 shares of Kirby stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total value of $1,955,330.00. Following the sale, the chief operating officer now owns 7,746 shares of the company's stock, valued at approximately $1,006,980. The trade was a 66.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard Ross Stewart sold 8,000 shares of Kirby stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $128.21, for a total transaction of $1,025,680.00. Following the completion of the sale, the director now directly owns 15,488 shares in the company, valued at $1,985,716.48. This trade represents a 34.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,596 shares of company stock worth $8,541,440. Insiders own 1.40% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Kirby from a "buy" rating to a "hold" rating in a report on Sunday, September 22nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Kirby currently has a consensus rating of "Moderate Buy" and an average price target of $123.80.

Kirby Stock Down 1.9 %

Shares of KEX traded down $2.36 during trading hours on Wednesday, hitting $121.02. The stock had a trading volume of 533,254 shares, compared to its average volume of 456,365. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05. The firm has a 50 day simple moving average of $124.14 and a 200-day simple moving average of $121.02. The firm has a market capitalization of $6.95 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 0.74 and a beta of 1.18. Kirby Co. has a 1-year low of $72.11 and a 1-year high of $132.21.

Kirby (NYSE:KEX - Get Free Report) last issued its earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.47 by $0.08. The company had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $1.05 EPS. Sell-side analysts predict that Kirby Co. will post 5.45 EPS for the current fiscal year.

Kirby Company Profile

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.