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

Shares of Kennedy-Wilson Holdings, Inc. (NYSE:KW) gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $8.63, but opened at $8.81. Kennedy-Wilson shares last traded at $8.83, with a volume of 73,488 shares changing hands.

Specifically, Director Stanley R. Zax bought 41,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were acquired at an average cost of $8.56 per share, with a total value of $350,960.00. Following the purchase, the director now directly owns 547,400 shares of the company’s stock, valued at $4,685,744. This trade represents a 8.10 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

Analyst Upgrades and Downgrades

Several research firms recently commented on KW. Deutsche Bank Aktiengesellschaft began coverage on Kennedy-Wilson in a report on Monday, February 24th. They issued a “hold” rating and a $9.00 price target for the company. StockNews.com raised Kennedy-Wilson from a “sell” rating to a “hold” rating in a research note on Friday, December 6th.

Kennedy-Wilson Stock Performance

The firm has a market cap of $1.22 billion, a PE ratio of -3.44, a PEG ratio of 0.54 and a beta of 1.14. The company has a debt-to-equity ratio of 6.06, a quick ratio of 1.18 and a current ratio of 1.18. The firm’s 50 day moving average price is $9.11 and its two-hundred day moving average price is $10.26.

Kennedy-Wilson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.48 annualized dividend and a yield of 5.42%. Kennedy-Wilson’s dividend payout ratio (DPR) is -85.71%.

Hedge Funds Weigh In On Kennedy-Wilson

Several large investors have recently modified their holdings of the business. Sterling Capital Management LLC boosted its stake in Kennedy-Wilson by 822.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,643 shares of the financial services provider’s stock worth $36,000 after buying an additional 3,248 shares during the period. KBC Group NV grew its holdings in shares of Kennedy-Wilson by 53.1% in the third quarter. KBC Group NV now owns 4,884 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 1,693 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Kennedy-Wilson by 181.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,823 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 3,755 shares during the last quarter. Cibc World Markets Corp acquired a new position in Kennedy-Wilson during the 4th quarter worth approximately $106,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of Kennedy-Wilson in the 4th quarter valued at approximately $114,000. Institutional investors and hedge funds own 87.72% of the company’s stock.

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.