Old West Investment Management LLC Buys 47,292 Shares of Kennedy-Wilson Holdings Inc. $KW

Key Points

• Old West Investment Management LLC increased its holdings in Kennedy-Wilson Holdings Inc. by 47,292 shares, raising its total to 641,220 shares, which makes up approximately 2.0% of its investment portfolio.
• Kennedy-Wilson's stock rating has been upgraded from "sell" to "buy" by Wall Street Zen, with a consensus price target of $9.00.
• The company announced a quarterly dividend of $0.12, equating to an annual yield of 5.6%, to be paid on October 9th.

Old West Investment Management LLC grew its position in shares of Kennedy-Wilson Holdings Inc. (NYSE:KW - Free Report) by 8.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 641,220 shares of the financial services provider's stock after purchasing an additional 47,292 shares during the quarter. Kennedy-Wilson comprises approximately 2.0% of Old West Investment Management LLC's investment portfolio, making the stock its 20th largest position. Old West Investment Management LLC owned approximately 0.37% of Kennedy-Wilson worth $5,566,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sherbrooke Park Advisers LLC acquired a new stake in shares of Kennedy-Wilson during the fourth quarter worth $114,000. Versor Investments LP acquired a new stake in Kennedy-Wilson during the 1st quarter worth about $115,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Kennedy-Wilson during the 1st quarter worth about $131,000. Teacher Retirement System of Texas bought a new position in shares of Kennedy-Wilson in the 1st quarter worth about $139,000. Finally, XTX Topco Ltd acquired a new position in shares of Kennedy-Wilson in the 4th quarter valued at about $151,000. Institutional investors and hedge funds own 87.72% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised Kennedy-Wilson from a "sell" rating to a "buy" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $9.00.

Kennedy-Wilson Price Performance

KW stock opened at $8.5050 on Monday. The company has a debt-to-equity ratio of 5.73, a current ratio of 0.97 and a quick ratio of 0.97. The company's 50-day moving average is $7.40 and its 200-day moving average is $7.53. The stock has a market capitalization of $1.17 billion, a PE ratio of -12.69, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. Kennedy-Wilson Holdings Inc. has a 1 year low of $5.98 and a 1 year high of $11.88.

Kennedy-Wilson (NYSE:KW - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.10. The business had revenue of $135.70 million during the quarter, compared to analyst estimates of $229.98 million. Kennedy-Wilson had a positive return on equity of 12.90% and a negative net margin of 9.11%. Equities research analysts expect that Kennedy-Wilson Holdings Inc. will post 2.87 EPS for the current fiscal year.

Kennedy-Wilson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 30th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Tuesday, September 30th. Kennedy-Wilson's dividend payout ratio (DPR) is currently -71.64%.

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.

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