Squarepoint Ops LLC Buys 98,607 Shares of World Kinect Corporation $WKC

Squarepoint Ops LLC raised its stake in World Kinect Corporation (NYSE:WKC) by 68.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,093 shares of the company’s stock after acquiring an additional 98,607 shares during the quarter. Squarepoint Ops LLC owned about 0.44% of World Kinect worth $6,863,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. First Horizon Advisors Inc. raised its position in World Kinect by 188.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 998 shares of the company’s stock worth $28,000 after purchasing an additional 652 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of World Kinect during the first quarter worth $32,000. Quarry LP acquired a new position in shares of World Kinect during the first quarter valued at $38,000. GAMMA Investing LLC increased its position in World Kinect by 27.6% in the second quarter. GAMMA Investing LLC now owns 1,589 shares of the company’s stock worth $45,000 after purchasing an additional 344 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in World Kinect during the 2nd quarter worth about $96,000. 97.06% of the stock is owned by institutional investors.

World Kinect Trading Up 0.6%

WKC opened at $24.19 on Monday. World Kinect Corporation has a twelve month low of $22.70 and a twelve month high of $31.54. The firm has a market cap of $1.34 billion, a PE ratio of -3.13, a price-to-earnings-growth ratio of 1.27 and a beta of 1.15. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 1.15. The firm’s fifty day moving average is $24.79 and its two-hundred day moving average is $26.34.

World Kinect (NYSE:WKC) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.07). The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.38 billion. World Kinect had a positive return on equity of 7.11% and a negative net margin of 1.16%.The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 EPS. Equities research analysts anticipate that World Kinect Corporation will post 2.56 EPS for the current year.

World Kinect Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Monday, December 15th will be given a $0.20 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.80 annualized dividend and a dividend yield of 3.3%. World Kinect’s payout ratio is currently -10.34%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WKC. Zacks Research cut shares of World Kinect from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of World Kinect in a report on Monday, December 8th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, World Kinect presently has a consensus rating of “Reduce” and a consensus target price of $28.75.

About World Kinect

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.