KKR & Co. Inc. (NYSE:KKR) Stock Sees Unusually High Put Option Buying

Key Points

• Put option activity surged: Traders bought 14,378 KKR put options, 88% above the average volume of 7,654.
• KKR shares fell $4.22 to $97.12 on Thursday. Insider Dane Holmes sold 10,000 shares at an average price of $108.58, reducing his direct stake by 54.02%.
• Analysts’ consensus rating remains Moderate Buy, with an average price target of $123.58; 17 rate the stock Buy and four rate it Hold.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Stock traders acquired 14,378 put options on the company. This is an increase of 88% compared to the average volume of 7,654 put options.

Insider Activity

In other news, insider Dane Holmes sold 10,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $108.58, for a total transaction of $1,085,800.00. Following the completion of the transaction, the insider directly owned 8,513 shares in the company, valued at approximately $924,341.54. This trade represents a 54.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 23.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On KKR & Co. Inc.

Hedge funds and other institutional investors have recently modified their holdings of the company. Lynx Capital Group Ltd. ADV increased its holdings in shares of KKR & Co. Inc. by 16.5% in the 3rd quarter. Lynx Capital Group Ltd. ADV now owns 21,052 shares of the asset manager's stock worth $1,922,000 after buying an additional 2,981 shares during the last quarter. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of KKR & Co. Inc. by 3.7% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 9,970 shares of the asset manager's stock valued at $910,000 after acquiring an additional 354 shares during the last quarter. 71 West Capital Partners lifted its holdings in shares of KKR & Co. Inc. by 13.9% in the 3rd quarter. 71 West Capital Partners now owns 3,291 shares of the asset manager's stock valued at $300,000 after acquiring an additional 401 shares during the last quarter. Nemes Rush Group LLC grew its position in KKR & Co. Inc. by 8.8% in the third quarter. Nemes Rush Group LLC now owns 3,538 shares of the asset manager's stock worth $323,000 after acquiring an additional 285 shares in the last quarter. Finally, AlphaCore Capital LLC grew its position in KKR & Co. Inc. by 28.0% in the third quarter. AlphaCore Capital LLC now owns 8,092 shares of the asset manager's stock worth $739,000 after acquiring an additional 1,769 shares in the last quarter. 76.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on KKR. BNP Paribas Exane dropped their target price on shares of KKR & Co. Inc. from $127.00 to $122.00 and set an "outperform" rating on the stock in a research note on Thursday, October 1st. TD Cowen cut their target price on KKR & Co. Inc. from $118.00 to $103.00 and set a "hold" rating on the stock in a research note on Monday, October 12th. Piper Sandler decreased their price target on KKR & Co. Inc. from $128.00 to $121.00 and set an "overweight" rating for the company in a research note on Monday, October 19th. Jefferies Financial Group decreased their price target on KKR & Co. Inc. from $129.00 to $112.00 and set a "buy" rating for the company in a research note on Tuesday, October 6th. Finally, Oppenheimer upped their price target on KKR & Co. Inc. from $139.00 to $166.00 and gave the company an "outperform" rating in a report on Thursday, August 27th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, KKR & Co. Inc. presently has an average rating of "Moderate Buy" and a consensus price target of $123.58.

KKR & Co. Inc. Stock Performance

KKR stock traded down $4.22 on Thursday, hitting $97.12. The company had a trading volume of 2,454,581 shares, compared to its average volume of 5,545,475. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $144.84. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.71. The stock's 50-day simple moving average is $96.48 and its 200 day simple moving average is $98.63. The stock has a market cap of $87.18 billion, a price-to-earnings ratio of 30.84, a P/E/G ratio of 0.73 and a beta of 1.72.

About KKR & Co. Inc.

KKR & Co Inc is a global investment firm that manages alternative assets for institutional investors, sovereign wealth funds, family offices, financial advisers and individual investors. The company invests across a range of asset classes, including private equity, credit, infrastructure, real estate and other investment strategies.

KKR provides investment management and related services through funds, customized investment solutions and capital markets activities. Its platform supports companies and projects with capital, strategic guidance and operational expertise.

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