Kennedy-Wilson Holdings, Inc. (NYSE:KW – Get Rating) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 2,110,000 shares, a drop of 15.3% from the August 15th total of 2,490,000 shares. Based on an average daily trading volume, of 495,900 shares, the days-to-cover ratio is currently 4.3 days. Currently, 1.8% of the company's shares are sold short.
Insider Buying and Selling
In related news, Director Stanley R. Zax acquired 35,000 shares of the business's stock in a transaction on Friday, August 26th. The shares were bought at an average cost of $18.15 per share, with a total value of $635,250.00. Following the completion of the transaction, the director now directly owns 458,800 shares of the company's stock, valued at approximately $8,327,220. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Stanley R. Zax acquired 35,000 shares of the business's stock in a transaction on Friday, August 26th. The shares were bought at an average cost of $18.15 per share, with a total value of $635,250.00. Following the completion of the transaction, the director now directly owns 458,800 shares of the company's stock, valued at approximately $8,327,220. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Mary Ricks sold 61,522 shares of the firm's stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $19.36, for a total value of $1,191,065.92. Following the completion of the transaction, the president now directly owns 2,142,961 shares in the company, valued at $41,487,724.96. The disclosure for this sale can be found here. Corporate insiders own 21.80% of the company's stock.
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Hedge Funds Weigh In On Kennedy-Wilson
A number of hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. acquired a new position in Kennedy-Wilson in the second quarter worth about $33,000. Beach Investment Counsel Inc. PA grew its stake in Kennedy-Wilson by 0.4% in the second quarter. Beach Investment Counsel Inc. PA now owns 652,688 shares of the financial services provider's stock worth $12,362,000 after purchasing an additional 2,606 shares in the last quarter. Legal & General Group Plc grew its stake in Kennedy-Wilson by 6.5% in the second quarter. Legal & General Group Plc now owns 632,386 shares of the financial services provider's stock worth $11,977,000 after purchasing an additional 38,652 shares in the last quarter. First Republic Investment Management Inc. grew its stake in Kennedy-Wilson by 12.0% in the second quarter. First Republic Investment Management Inc. now owns 433,494 shares of the financial services provider's stock worth $8,210,000 after purchasing an additional 46,305 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Kennedy-Wilson by 1.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 57,469 shares of the financial services provider's stock worth $1,088,000 after purchasing an additional 590 shares in the last quarter. 80.12% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised Kennedy-Wilson from a "sell" rating to a "hold" rating in a research report on Tuesday, September 13th.
Kennedy-Wilson Stock Down 3.1 %
Shares of NYSE KW traded down $0.55 during midday trading on Tuesday, reaching $17.05. 27,083 shares of the company's stock were exchanged, compared to its average volume of 567,525. Kennedy-Wilson has a 52-week low of $17.26 and a 52-week high of $25.30. The stock has a market capitalization of $2.35 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 4.27 and a beta of 1.13. The company has a debt-to-equity ratio of 4.09, a quick ratio of 1.05 and a current ratio of 1.05. The business's fifty day moving average price is $19.13 and its two-hundred day moving average price is $20.80.
Kennedy-Wilson Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Friday, September 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.63%. The ex-dividend date is Thursday, September 29th. Kennedy-Wilson's payout ratio is 105.50%.
Kennedy-Wilson Company Profile
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Kennedy-Wilson Holdings, Inc, together with its subsidiaries, operates as a real estate investment company. The company owns, operates, and invests in real estate both on its own and through its investment management platform. It focuses on multifamily and office properties located in the Western United States, the United Kingdom, Ireland, Spain, Italy, and Japan.
Further Reading
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