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Michael J. Kasbar, Chairman, CEO, and President of World Kinect Corp (NYSE:WKC), a prominent player in the Oil, Gas & Consumable Fuels industry with a market capitalization of $1.6 billion, recently executed a series of stock transactions, according to a new SEC filing. On March 4, Kasbar sold 21,507 shares of common stock at a weighted average price of $28.96, totaling approximately $622,842. According to InvestingPro analysis, WKC currently trades at an attractive PEG ratio of 0.76 and shows signs of undervaluation.
In addition to the sales, Kasbar exercised stock-settled stock appreciation rights, acquiring 145,349 shares at $23.39 per share, with a total value of $3,399,713. The transaction was part of a broader strategy that also involved withholding shares for tax purposes, resulting in the disposal of 123,842 shares at $29.08 each, valued at $3,601,325. Notably, WKC maintains strong corporate governance, with management actively engaging in share buybacks and the company receiving a "GOOD" Financial Health Score.
Following these transactions, Kasbar holds 1,019,063 shares directly, with an additional 1,340 shares indirectly owned through his spouse. For comprehensive analysis of WKC’s insider trading patterns and 10+ additional ProTips, access the full InvestingPro Research Report, part of our coverage of 1,400+ US stocks.
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