Millennium Management LLC Sells 538,898 Shares of Kennedy-Wilson Holdings, Inc. (NYSE:KW)

Millennium Management LLC reduced its holdings in shares of Kennedy-Wilson Holdings, Inc. (NYSE:KW) by 63.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 317,102 shares of the financial services provider’s stock after selling 538,898 shares during the quarter. Millennium Management LLC’s holdings in Kennedy-Wilson were worth $3,082,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dark Forest Capital Management LP acquired a new position in Kennedy-Wilson during the 2nd quarter worth approximately $133,000. Delta Investment Management LLC increased its holdings in Kennedy-Wilson by 6.1% during the 2nd quarter. Delta Investment Management LLC now owns 26,071 shares of the financial services provider’s stock valued at $253,000 after purchasing an additional 1,500 shares during the period. Aristeia Capital L.L.C. bought a new stake in shares of Kennedy-Wilson in the 2nd quarter worth approximately $657,000. Marshall Wace LLP bought a new position in Kennedy-Wilson in the 2nd quarter valued at approximately $1,721,000. Finally, Evergreen Capital Management LLC lifted its holdings in shares of Kennedy-Wilson by 49.2% during the 2nd quarter. Evergreen Capital Management LLC now owns 20,665 shares of the financial services provider’s stock valued at $204,000 after buying an additional 6,812 shares during the period. 87.72% of the stock is currently owned by institutional investors.

Kennedy-Wilson Price Performance

Shares of KW opened at $10.69 on Tuesday. The firm’s fifty day simple moving average is $10.82 and its 200-day simple moving average is $10.03. Kennedy-Wilson Holdings, Inc. has a twelve month low of $7.85 and a twelve month high of $14.13. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 5.67. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -5.43, a PEG ratio of 0.65 and a beta of 1.10.

Kennedy-Wilson (NYSE:KW) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.12. Kennedy-Wilson had a negative net margin of 59.78% and a negative return on equity of 13.90%. The business had revenue of $132.00 million during the quarter, compared to analyst estimates of $100.66 million. During the same quarter in the previous year, the business posted $0.28 earnings per share. The company’s revenue was down 9.9% on a year-over-year basis. Equities analysts forecast that Kennedy-Wilson Holdings, Inc. will post 2.88 EPS for the current fiscal year.

Kennedy-Wilson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 30th were paid a dividend of $0.12 per share. The ex-dividend date was Monday, September 30th. This represents a $0.48 annualized dividend and a yield of 4.49%. Kennedy-Wilson’s payout ratio is -24.37%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on KW shares. JPMorgan Chase & Co. increased their price target on Kennedy-Wilson from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. StockNews.com lowered shares of Kennedy-Wilson from a “hold” rating to a “sell” rating in a research report on Monday, September 2nd.

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.