Alliancebernstein Reduces Stake in Kirby Corporation

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Alliancebernstein L.P., a major institutional investor, has reduced its holdings in Kirby Corporation (NYSE: KEX) by 31.3% in the third quarter, according to a recent 13F filing with the Securities and Exchange Commission. The firm sold 713,960 shares of the shipping company's stock, leaving it with 1,568,905 shares, or a 2.89% ownership stake.

Why it matters

Alliancebernstein's reduced position in Kirby Corporation could signal a shift in sentiment around the shipping company among institutional investors. As a major shareholder, Alliancebernstein's trading activity can influence the stock price and market perception of Kirby.

The details

According to the 13F filing, Alliancebernstein sold the 713,960 shares of Kirby Corporation during the third quarter. This represents a 31.3% reduction in the firm's holdings of the shipping company's stock. Alliancebernstein now owns 1,568,905 shares of Kirby, or 2.89% of the company's outstanding shares.

• Alliancebernstein reduced its Kirby holdings in the third quarter of the year.