Y.D. More Investments Ltd Has $6.29 Million Stock Position in Kenon Holdings Ltd. (NYSE:KEN)

Key Points

• Y.D. More Investments Ltd reduced its holdings in Kenon Holdings Ltd by 3.3%, owning approximately 199,472 shares worth $6.29 million after selling 6,861 shares in the first quarter.
• Multiple institutional investors, including Bank of America Corp DE, significantly increased their stakes in Kenon, with Bank of America boosting its position by 1,139.9% during the same quarter.
• Wall Street Zen downgraded Kenon from a "hold" to a "sell" rating on May 15, further contributing to a decline in the stock price of approximately 0.5%.

Y.D. More Investments Ltd reduced its position in shares of Kenon Holdings Ltd. (NYSE:KEN - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 199,472 shares of the utilities provider's stock after selling 6,861 shares during the period. Y.D. More Investments Ltd owned about 0.38% of Kenon worth $6,288,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in KEN. Vanguard Group Inc. grew its stake in shares of Kenon by 0.5% in the first quarter. Vanguard Group Inc. now owns 763,908 shares of the utilities provider's stock worth $24,217,000 after purchasing an additional 4,176 shares in the last quarter. CWA Asset Management Group LLC grew its stake in shares of Kenon by 31.2% in the first quarter. CWA Asset Management Group LLC now owns 29,727 shares of the utilities provider's stock worth $951,000 after purchasing an additional 7,061 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its stake in shares of Kenon by 34.4% in the first quarter. Redhawk Wealth Advisors Inc. now owns 29,471 shares of the utilities provider's stock worth $942,000 after purchasing an additional 7,538 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Kenon by 11.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 425,549 shares of the utilities provider's stock worth $14,214,000 after purchasing an additional 43,694 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Kenon by 1,139.9% in the fourth quarter. Bank of America Corp DE now owns 22,764 shares of the utilities provider's stock worth $774,000 after purchasing an additional 20,928 shares in the last quarter. 13.38% of the stock is owned by institutional investors and hedge funds.

Kenon Price Performance

KEN stock traded up $0.69 during trading hours on Monday, hitting $43.66. 5,003 shares of the stock traded hands, compared to its average volume of 19,854. The stock has a 50-day simple moving average of $42.09 and a 200 day simple moving average of $35.46. Kenon Holdings Ltd. has a one year low of $23.55 and a one year high of $49.99. The company has a market cap of $2.28 billion, a P/E ratio of 13.64 and a beta of 1.18. The company has a current ratio of 5.45, a quick ratio of 5.45 and a debt-to-equity ratio of 0.44.

Kenon (NYSE:KEN - Get Free Report) last announced its earnings results on Wednesday, May 28th. The utilities provider reported $0.22 earnings per share for the quarter. Kenon had a negative return on equity of 2.64% and a net margin of 79.14%. The business had revenue of $183.00 million during the quarter.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Kenon from a "hold" rating to a "sell" rating in a research note on Thursday, May 15th.

Kenon Company Profile

Kenon Holdings Ltd., through its subsidiaries, operates as an owner, developer, and operator of power generation facilities in Israel, the United States, and internationally. It operates through OPC Power Plants, CPV Group, and ZIM segments. The company engages in the generation and supply of electricity and energy; development, construction, and management of solar and wind energy, and conventional natural gas-fired power plants; and provision of container liner shipping services.