Kennedy-Wilson (NYSE:KW) Shares Gap Up – Here’s What Happened

Shares of Kennedy-Wilson Holdings Inc. (NYSE:KW) gapped up prior to trading on Wednesday . The stock had previously closed at $7.47, but opened at $9.76. Kennedy-Wilson shares last traded at $9.7350, with a volume of 884,814 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently commented on KW. Wall Street Zen raised shares of Kennedy-Wilson from a “sell” rating to a “buy” rating in a research note on Saturday, August 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Kennedy-Wilson in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Kennedy-Wilson presently has an average rating of “Reduce” and an average price target of $9.00.

Kennedy-Wilson Stock Performance

The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -14.57, a price-to-earnings-growth ratio of 2.37 and a beta of 1.16. The stock’s 50 day moving average is $8.24 and its 200 day moving average is $7.44. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 5.73.

Kennedy-Wilson (NYSE:KW) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.10. The firm had revenue of $135.70 million for the quarter, compared to analyst estimates of $229.98 million. Kennedy-Wilson had a negative net margin of 9.11% and a positive return on equity of 12.90%. Analysts anticipate that Kennedy-Wilson Holdings Inc. will post 2.87 earnings per share for the current year.

Institutional Investors Weigh In On Kennedy-Wilson

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in shares of Kennedy-Wilson by 35.2% during the second quarter. GAMMA Investing LLC now owns 5,329 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 1,388 shares in the last quarter. CWM LLC raised its position in shares of Kennedy-Wilson by 98.9% in the third quarter. CWM LLC now owns 4,681 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 2,327 shares during the period. State of Wyoming bought a new stake in shares of Kennedy-Wilson in the second quarter valued at approximately $58,000. PharVision Advisers LLC purchased a new position in Kennedy-Wilson in the 2nd quarter worth approximately $73,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Kennedy-Wilson in the 3rd quarter valued at $88,000. 87.72% of the stock is currently 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.