Kirby Target of Unusually Large Options Trading (NYSE:KEX)

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Kirby Co. (NYSE:KEX) was the target of unusually large options trading on Wednesday. Traders acquired 1,538 call options on the stock. This is an increase of approximately 999% compared to the average daily volume of 140 call options.

In related news, VP Scott P. Miller sold 1,298 shares of the business’s stock in a transaction on Wednesday, February 3rd. The shares were sold at an average price of $56.64, for a total transaction of $73,518.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David W. Grzebinski sold 2,000 shares of the company’s stock in a transaction on Tuesday, March 2nd. The shares were sold at an average price of $64.11, for a total transaction of $128,220.00. Following the transaction, the chief executive officer now owns 66,836 shares of the company’s stock, valued at $4,284,855.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,974 shares of company stock valued at $2,379,423. 1.70% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Eudaimonia Partners LLC bought a new position in Kirby in the 4th quarter valued at $26,000. Point72 Hong Kong Ltd bought a new position in shares of Kirby in the third quarter valued at about $54,000. Neo Ivy Capital Management acquired a new position in Kirby during the 3rd quarter worth about $99,000. Norman Fields Gottscho Capital Management LLC bought a new stake in Kirby during the 4th quarter worth about $207,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Kirby in the 4th quarter valued at about $208,000. 90.26% of the stock is currently owned by institutional investors and hedge funds.

Shares of KEX opened at $61.76 on Thursday. The stock’s 50-day moving average price is $63.74 and its 200 day moving average price is $51.96. The company has a quick ratio of 1.64, a current ratio of 2.36 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of -19.18, a P/E/G ratio of 4.27 and a beta of 1.42. Kirby has a 12-month low of $35.10 and a 12-month high of $70.00.

Kirby (NYSE:KEX) last issued its earnings results on Thursday, January 28th. The shipping company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.14. Kirby had a negative net margin of 8.27% and a positive return on equity of 3.90%. The business had revenue of $489.80 million for the quarter, compared to analyst estimates of $491.54 million. During the same period in the previous year, the business earned $0.58 EPS. The firm’s revenue was down 25.3% on a year-over-year basis. Equities research analysts expect that Kirby will post 1.7 EPS for the current year.

Kirby Company Profile

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.

Further Reading: Depreciation

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