Here’s Why World Kinect Corporation (WKC) Fell in Q2

Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” second-quarter 2023 investor letter, a copy of which can be downloaded here. In the second quarter, the portfolio gained +1.7% (net) lagging behind R2000V’s +3.2% gain and R2500V’s +4.4% increase. In the quarter, quality factors were under pressure. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Bernzott Capital Advisors highlighted stocks like World Kinect Corporation (NYSE:WKC) in the second quarter 2023 investor letter. World Kinect Corporation (NYSE:WKC) was previously named World Fuel Services Corporation and changed its name in June 2023.  Headquartered in Miami, Florida, World Kinect Corporation (NYSE:WKC) distributes fuel and related products and services in the aviation, marine, and land transportation industries. On July 20, 2023, World Kinect Corporation (NYSE:WKC) stock closed at $23.29 per share. One-month return of World Kinect Corporation (NYSE:WKC) was 2.92%, and its shares gained 5.77% of their value over the last 52 weeks. World Kinect Corporation (NYSE:WKC) has a market capitalization of $1.447 billion.

Bernzott Capital Advisors made the following comment about World Kinect Corporation (NYSE:WKC) in its second quarter 2023 investor letter:

“World Kinect Corporation (NYSE:WKC): The company’s most recent results produced margins below expectations which negatively impacted stock performance during the quarter. Demand remains firm however within their two largest segments of Aviation and Land, as overall travel has rebounded while pricing should take a step up due to contracts repricing higher.”

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World Kinect Corporation (NYSE:WKC)is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held World Kinect Corporation (NYSE:WKC) at the end of first quarter which was 14 in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.