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

Kennedy-Wilson Holdings, Inc. (NYSE:KW) shares 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.

Specifically, Director Stanley R. Zax bought 41,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was bought at an average price of $8.56 per share, for a total transaction of $350,960.00. Following the completion of the transaction, the director now directly owns 547,400 shares in the company, valued at $4,685,744. The trade was a 8.10 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

KW has been the subject of a number of recent analyst reports. StockNews.com upgraded Kennedy-Wilson from a “sell” rating to a “hold” rating in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Kennedy-Wilson in a report on Monday, February 24th. They issued a “hold” rating and a $9.00 price objective for the company.

Kennedy-Wilson Stock Up 3.4 %

The business has a fifty day moving average of $9.10 and a 200 day moving average of $10.25. The firm has a market cap of $1.23 billion, a P/E ratio of -3.46, a P/E/G ratio of 0.54 and a beta of 1.14. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 6.06.

Kennedy-Wilson Dividend Announcement

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 $0.12 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.48 dividend on an annualized basis and a yield of 5.38%. Kennedy-Wilson’s payout ratio is -85.71%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC grew its stake in Kennedy-Wilson by 822.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,643 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 3,248 shares during the period. KBC Group NV grew its stake in 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 acquiring an additional 1,693 shares during the period. Smartleaf Asset Management LLC grew 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 valued at $58,000 after acquiring an additional 3,755 shares during the period. Cibc World Markets Corp acquired a new position in Kennedy-Wilson in the fourth quarter valued at about $106,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in Kennedy-Wilson in the fourth quarter valued at about $114,000. 87.72% of the stock is owned by institutional investors and hedge funds.

About Kennedy-Wilson

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.