Two Sigma Advisers LP Cuts Stock Holdings in World Kinect Co. (NYSE:WKC)

Two Sigma Advisers LP reduced its position in World Kinect Co. (NYSE:WKC - Free Report) by 4.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 377,200 shares of the company's stock after selling 17,800 shares during the period. Two Sigma Advisers LP owned 0.65% of World Kinect worth $11,659,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of WKC. Quarry LP boosted its stake in World Kinect by 3,600.0% in the 3rd quarter. Quarry LP now owns 1,073 shares of the company's stock worth $33,000 after purchasing an additional 1,044 shares in the last quarter. Innealta Capital LLC acquired a new stake in World Kinect in the 2nd quarter worth approximately $65,000. Hara Capital LLC acquired a new stake in World Kinect in the 3rd quarter worth approximately $76,000. Point72 Asia Singapore Pte. Ltd. boosted its stake 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 purchasing an additional 1,189 shares in the last quarter. Finally, Privium Fund Management UK Ltd acquired a new stake in World Kinect in the 2nd quarter worth approximately $208,000. 97.06% of the stock is currently owned by institutional investors.

World Kinect Stock Performance

NYSE WKC traded up $0.15 on Tuesday, hitting $28.43. 543,498 shares of the company's stock traded hands, compared to its average volume of 658,116. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. World Kinect Co. has a 1-year low of $20.00 and a 1-year high of $31.70. The firm's 50-day moving average price is $28.99 and its two-hundred day moving average price is $27.79. The firm has a market capitalization of $1.65 billion, a PE ratio of 12.57, a P/E/G ratio of 1.10 and a beta of 1.28.

World Kinect (NYSE:WKC - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.62 EPS for the quarter, meeting the consensus estimate of $0.62. The business had revenue of $10.49 billion during the quarter, compared to analysts' expectations of $11.77 billion. World Kinect had a net margin of 0.30% and a return on equity of 6.29%. The business's quarterly revenue was down 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 EPS. As a group, analysts expect that World Kinect Co. will post 2.12 EPS for the current year.

World Kinect declared that its board has authorized a stock repurchase plan on Monday, September 9th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to repurchase up to 11% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Morgan Stanley cut shares of World Kinect from an "equal weight" rating to an "underweight" rating and set a $28.00 target price for the company. in a research note on Monday, September 16th. Bank of America lifted their target price on shares of World Kinect from $24.00 to $27.00 and gave the stock an "underperform" rating in a research note on Friday, September 13th. Stifel Nicolaus cut shares of World Kinect from a "buy" rating to a "hold" rating and decreased their price objective for the company from $33.00 to $32.00 in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of World Kinect from $29.00 to $32.00 and gave the company a "neutral" rating in a research note on Thursday, September 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $30.20.

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.