Walleye Capital LLC Has $2.55 Million Position in Kirby Co. (NYSE:KEX)

Walleye Capital LLC grew its holdings in Kirby Co. (NYSE:KEX) by 54.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,836 shares of the shipping company’s stock after buying an additional 7,381 shares during the quarter. Walleye Capital LLC’s holdings in Kirby were worth $2,551,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in KEX. Farther Finance Advisors LLC lifted its holdings in Kirby by 420.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock worth $25,000 after buying an additional 168 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Kirby during the second quarter valued at $26,000. ORG Wealth Partners LLC bought a new position in Kirby in the third quarter valued at about $30,000. ORG Partners LLC acquired a new stake in Kirby in the second quarter worth about $32,000. Finally, Opal Wealth Advisors LLC bought a new stake in Kirby during the 2nd quarter worth about $33,000. 96.15% of the stock is owned by institutional investors.

Kirby Trading Down 1.2 %

NYSE:KEX opened at $123.38 on Wednesday. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. Kirby Co. has a 1-year low of $72.11 and a 1-year high of $132.21. The firm has a market capitalization of $7.08 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 0.74 and a beta of 1.18. The business’s 50-day moving average price is $124.14 and its two-hundred day moving average price is $121.02.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. The business had revenue of $831.10 million for the quarter, compared to the consensus estimate of $824.42 million. Kirby had a net margin of 9.37% and a return on equity of 9.43%. Kirby’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the company posted $1.05 EPS. On average, equities analysts expect that Kirby Co. will post 5.45 earnings per share for the current year.

Insider Transactions at Kirby

In other news, COO Christian G. O’neil sold 15,041 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $130.00, for a total transaction of $1,955,330.00. Following the sale, the chief operating officer now owns 7,746 shares of the company’s stock, valued at $1,006,980. This trade represents a 66.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David W. Grzebinski sold 26,358 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $120.46, for a total value of $3,175,084.68. Following the completion of the transaction, the chief executive officer now owns 63,399 shares of the company’s stock, valued at $7,637,043.54. This represents a 29.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,596 shares of company stock valued at $8,541,440 over the last three months. 1.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Kirby from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $123.80.

Kirby 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.