Short Interest in World Kinect Corporation (NYSE:WKC) Rises By 27.6%

World Kinect Corporation (NYSE:WKC) saw a significant growth in short interest in January. As of January 15th, there was short interest totaling 5,991,030 shares, a growth of 27.6% from the December 31st total of 4,695,188 shares. Based on an average trading volume of 1,242,252 shares, the days-to-cover ratio is presently 4.8 days. Approximately 11.1% of the company’s shares are short sold. Approximately 11.1% of the company’s shares are short sold. Based on an average trading volume of 1,242,252 shares, the days-to-cover ratio is presently 4.8 days.

Wall Street Analyst Weigh In

Several brokerages have commented on WKC. Weiss Ratings restated a “sell (d)” rating on shares of World Kinect in a report on Monday, December 29th. Zacks Research raised World Kinect from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $28.75.

Institutional Trading of World Kinect

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in World Kinect by 2.2% in the 1st quarter. Royal Bank of Canada now owns 68,228 shares of the company’s stock valued at $1,934,000 after acquiring an additional 1,481 shares during the period. AQR Capital Management LLC raised its position in shares of World Kinect by 16.5% in the first quarter. AQR Capital Management LLC now owns 119,198 shares of the company’s stock valued at $3,380,000 after purchasing an additional 16,874 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of World Kinect by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,972 shares of the company’s stock worth $963,000 after buying an additional 1,497 shares during the last quarter. Millennium Management LLC lifted its stake in shares of World Kinect by 3.3% during the 1st quarter. Millennium Management LLC now owns 525,697 shares of the company’s stock worth $14,909,000 after buying an additional 16,738 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of World Kinect by 18.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,791 shares of the company’s stock worth $6,262,000 after buying an additional 34,807 shares during the period. 97.06% of the stock is owned by institutional investors.

World Kinect Stock Up 0.7%

Shares of World Kinect stock traded up $0.18 during trading hours on Monday, reaching $27.09. 590,727 shares of the company’s stock were exchanged, compared to its average volume of 960,049. The stock has a market cap of $1.50 billion, a P/E ratio of -3.50, a P/E/G ratio of 1.22 and a beta of 1.13. The company has a 50 day moving average of $24.99 and a two-hundred day moving average of $25.60. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. World Kinect has a fifty-two week low of $22.70 and a fifty-two week high of $31.54.

World Kinect Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Monday, December 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, December 15th. World Kinect’s dividend payout ratio (DPR) is currently -10.34%.

World Kinect Company Profile

World Kinect Energy Services, Inc (NYSE: WKC) is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.