Kennedy-Wilson (NYSE:KW) Shares Gap Up on Insider Buying Activity

Kennedy-Wilson Holdings, Inc. (NYSE:KW) shares gapped up prior to trading on Friday following insider buying activity. The stock had previously closed at $6.40, but opened at $6.64. Kennedy-Wilson shares last traded at $6.55, with a volume of 255,049 shares traded.

Specifically, CEO William J. Mcmorrow acquired 200,000 shares of the stock in a transaction dated Thursday, May 15th. The stock was acquired at an average cost of $6.36 per share, with a total value of $1,272,000.00. Following the transaction, the chief executive officer now owns 8,049,517 shares in the company, valued at $51,194,928.12. The trade was a 2.55% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on Kennedy-Wilson in a research report on Monday, February 24th. They issued a “hold” rating and a $9.00 target price for the company.

Kennedy-Wilson Trading Up 4.3%

The company has a 50 day simple moving average of $7.34 and a 200 day simple moving average of $9.11. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 6.06. The stock has a market capitalization of $923.11 million, a PE ratio of -2.59, a P/E/G ratio of 0.54 and a beta of 1.07.

Kennedy-Wilson (NYSE:KW) last issued its earnings results on Wednesday, May 7th. The financial services provider reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The business had revenue of $128.30 million for the quarter, compared to analysts’ expectations of $227.14 million. Kennedy-Wilson had a negative return on equity of 14.09% and a negative net margin of 58.56%. Analysts predict that Kennedy-Wilson Holdings, Inc. will post 2.87 earnings per share for the current fiscal year.

Kennedy-Wilson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 30th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 7.19%. The ex-dividend date of this dividend is Monday, June 30th. Kennedy-Wilson’s dividend payout ratio (DPR) is -45.71%.

Hedge Funds Weigh In On Kennedy-Wilson

Hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC increased its stake in Kennedy-Wilson by 822.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,643 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 3,248 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Kennedy-Wilson by 181.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,823 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 3,755 shares in the last quarter. KBC Group NV increased its stake in Kennedy-Wilson by 56.3% in the 4th quarter. KBC Group NV now owns 7,632 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 2,748 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Kennedy-Wilson in the 1st quarter valued at approximately $92,000. Finally, Cibc World Markets Corp purchased a new position in Kennedy-Wilson in the 4th quarter valued at approximately $106,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Kennedy-Wilson Company Profile

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.