World Kinect Corporation (NYSE:WKC) Short Interest Update

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Zacks Research raised World Kinect from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of World Kinect in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $28.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WKC. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in World Kinect by 47.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 121,463 shares of the company’s stock valued at $3,152,000 after acquiring an additional 38,888 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of World Kinect by 42.3% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 156,011 shares of the company’s stock valued at $4,048,000 after purchasing an additional 46,390 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of World Kinect by 7.9% in the 2nd quarter. Prudential Financial Inc. now owns 313,239 shares of the company’s stock worth $8,880,000 after purchasing an additional 22,865 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of World Kinect in the second quarter worth approximately $216,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in World Kinect during the second quarter valued at approximately $3,615,000. Institutional investors own 97.06% of the company’s stock.

World Kinect Stock Down 0.5%

Shares of WKC stock traded down $0.14 during mid-day trading on Tuesday, hitting $26.95. The company’s stock had a trading volume of 673,379 shares, compared to its average volume of 932,538. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -3.48, a PEG ratio of 1.23 and a beta of 1.13. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 1.15. World Kinect has a 52-week low of $22.70 and a 52-week high of $31.54. The business has a 50-day moving average price of $25.05 and a 200 day moving average price of $25.59.

World Kinect Dividend Announcement

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

About World Kinect

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.