Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. KKR & Co. Inc. shares valued at $81,075,000 were sold by KKR Group Partnership L.P. on Sep 13. At $14.10 per share, KKR Group Partnership L.P. sold 5,750,000 shares. The insider’s holdings dropped to 572,354 shares worth approximately $25.82 million following the completion of this transaction.
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Also, Sorkin David sold 60,000 shares, netting a total of over 3,416,568 in proceeds. Following the sale of shares at $56.94 each, the insider now holds 1,474,144 shares.
Before that, Cohler Matt had added 18,710 shares to its account. In a trade valued at $991,485, the Director bought KKR & Co. Inc. shares for $52.99 each. Upon closing the transaction, the insider’s holdings increased to 18,710 shares, worth approximately $3.92 million.
As published in their initiating research note from Wells Fargo on December 16, 2021, KKR & Co. Inc. [KKR] has been an Overweight and the price target has been revised to $90. This represents a 49.88% premium over Thursday’s closing price. Analysts at BofA Securities started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid December.
Analyzing KKR’s Price Performance
On Thursday, KKR & Co. Inc. [NYSE: KKR] plunged -2.19% to $45.11. The stock’s lowest price that day was $44.56, but it reached a high of $46.18 in the same session. During the last five days, there has been a drop of approximately -9.13%. Over the course of the year, KKR & Co. Inc. shares have dropped approximately -39.45%. Shares of the company reached a 52-week high of $75.19 on 01/03/22 and a 52-week low of $44.28 on 06/16/22. A 50-day SMA is recorded $51.86, while a 200-day SMA reached $57.32. Nevertheless, trading volume fell to 4.17 million shares from 3.84 million shares the previous day.
Support And Resistance Levels for KKR & Co. Inc. (KKR)
According to the 24-hour chart, there is a support level at 44.39, which, if violated, would cause prices to drop to 43.66. In the upper region, resistance lies at 46.01. The next price resistance is at 46.90. RSI (Relative Strength Index) is 31.81 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.85, which suggests the price will decrease in the coming days. Percent R is at 93.50%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is KKR & Co. Inc. subject to short interest?
Stocks of KKR & Co. Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.17 million shares to 8.3 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 8.13 million shares. A jump of 2.05% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.79 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.79.
Which companies own the most shares of KKR & Co. Inc. (KKR)?
According to The Vanguard Group, Inc. filings, the company currently owns 34,304,588 shares, which is about 3.99% of the total KKR shares outstanding. The investor’s shares have appreciated by 1,755,275 from its previous 13-F filing of 32549313.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $1,576,408,875. ValueAct Capital Management LP acquire a 17.04% interest valued at $1.34 billion while Principal Global Investors LLC purchased a 1,177,018 stake. A total of -856,012 shares of KKR & Co. Inc. were bought by BlackRock Fund Advisors during the quarter, and -577,548 were sold by T. Rowe Price Associates, Inc.. In its current portfolio, Akre Capital Management LLC holds 15,375,912 shares valued at $777.41 million.
In terms of KKR & Co. Inc. share price expectations, FactSet research, analysts set an average price target of $68.23 in the next 12 months, up nearly 45.27% from the previous closing price of $46.12. Analysts anticipate KKR & Co. Inc. stock to reach $80.00 by 2022, with the lowest price target being $58.00. In spite of this, 17 analysts ranked KKR & Co. Inc. stock as a Buy at the end of 2022. On August 11, 2021, Deutsche Bank assigned a price target of “a Buy” to the stock and upgraded coverage with a $75.