KKR & Co. Inc.’s recent filing unveils that its 10% Owner KKR Group Partnership L.P. unloaded Company’s shares for reported $552.75 million on Aug 21. In the deal valued at $36.85 per share,15,000,000 shares were sold. As a result of this transaction, KKR Group Partnership L.P. now holds 4,570,327 shares worth roughly $ 271.93 million.
Then, KKR Group Partnership L.P. sold 10,000,000 shares, generating $370,000,000 in total proceeds. Upon selling the shares at $37.00, the 10% Owner now owns 19,644,896 shares.
Before that, KKR Phorm Investors L.P. bought 1,735,988 shares. KKR & Co. Inc. shares valued at $5,728,760 were divested by the 10% Owner at a price of $3.30 per share. As a result of the transaction, KKR Phorm Investors L.P. now holds 24,411,968 shares, worth roughly $1.45 billion.
Citigroup initiated its KKR & Co. Inc. [KKR] rating to a Buy in a research note published on Friday, May 19, 2023; the price target was $69. PT values the company’s stock at a premium of 13.77 to its Friday closing price.
Price Performance Review of KKR
On Friday, KKR & Co. Inc. [NYSE:KKR] saw its stock fall -0.08% to $59.50. On the same session, the stock had its day’s lowest price of $58.38, but rose to a high of $59.87. Over the last five days, the stock has lost -1.16%. KKR & Co. Inc. shares have risen nearly 28.18% since the year began. Nevertheless, the stocks have risen 11.93% over the past one year. While a 52-week high of $63.64 was reached on 08/07/23, a 52-week low of $41.77 was recorded on 01/03/23. SMA at 50 days reached $58.73, while 200 days put it at $53.73. A total of 1.98 million shares were traded, compared to the trading of 2.61 million shares in the previous session.
Levels Of Support And Resistance For KKR Stock
The 24-hour chart illustrates a support level at 58.63, which if violated will result in even more drops to 57.76. On the upside, there is a resistance level at 60.12. A further resistance level may holdings at 60.74. The Relative Strength Index (RSI) on the 14-day chart is 48.74, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.66, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 75.67%. Stochastics %K at 28.50% indicates the stock is a holding.
How much short interest is there in KKR & Co. Inc.?
A steep rise in short interest was recorded in KKR & Co. Inc. stocks on Aug 14, 2023, growing by 2.21 million shares to a total of 13.58 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 11.37 million shares. There was a rise of 16.27%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.12% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.93.
KKR & Co. Inc. [KKR] – Who Are The Largest Shareholders?
In filings from Capital Research & Management Co, it is revealed that the company now owns 39,745,944 shares, or roughly 4.61% of the outstanding KKR shares. In other words, the investor’s shares have fallen by -2,126,831 from its previous 13-F filing of 41872775.0. Additionally, The Vanguard Group, Inc. decreased -0.14% of its stake after which the total value it holdings stand at $2,264,812,877, while Harris Associates LP added 9.39% of its stake to hold $1.73 billion in the firm. Over the last quarter, Principal Global Investors LLC sold -709,426 shares of KKR & Co. Inc., while T. Rowe Price Investment Manageme sold -3,614,496 shares. At present, BlackRock Fund Advisors is holding 22,466,073 shares valued at $1.33 billion. ValueAct Capital Management LP owned 20,535,233 shares of the company at the time of its most recent 13F filing, worth $1.22 billion.
According to FactSet, KKR & Co. Inc.’s share price will average $73.19 in the next year, based on opinions of analysts polled by the firm. This is up nearly 23.43 percent from its previous closing price of $59.55. Analysts expect KKR & Co. Inc. stock to reach the higher price of $91.00, while the lowest price estimate is $63.00. However, 18 analysts have rated KKR stock as a Buy in their predictions for 2023.