Kennedy-Wilson Holdings Inc (KW) rating downgrades by BofA Securities

In a filing, Kennedy-Wilson Holdings Inc revealed its CHAIRMAN AND CEO MCMORROW WILLIAM J acquired Company’s shares for reported $1.23 million on Nov 06 ’23. In the deal valued at $12.32 per share,100,000 shares were bought. As a result of this transaction, MCMORROW WILLIAM J now holds 8,599,517 shares worth roughly $72.32 million.

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BofA Securities downgraded its Kennedy-Wilson Holdings Inc [KW] rating to an Underperform from a a Neutral in a research note published on November 07, 2023; the price target was decreased to $6 from $18. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in mid December from “an Overweight” to “a Neutral”. Deutsche Bank also remained covering KW and has increased its forecast on September 08, 2020 with a “Buy” recommendation from previously “Hold” rating. BofA/Merrill started covering the stock on January 27, 2020. It rated KW as “a Neutral”.

Price Performance Review of KW

On Monday, Kennedy-Wilson Holdings Inc [NYSE:KW] saw its stock jump 1.82% to $8.41. Over the last five days, the stock has gained 2.06%. Kennedy-Wilson Holdings Inc shares have fallen nearly -32.07% since the year began. Nevertheless, the stocks have fallen -46.97% over the past one year. While a 52-week high of $17.43 was reached on 01/02/24, a 52-week low of $7.85 was recorded on 03/14/24. SMA at 50 days reached $9.60, while 200 days put it at $13.24. A total of 0.94 million shares were traded, compared to the trading of 1.15 million shares in the previous session.

Levels Of Support And Resistance For KW Stock

The 24-hour chart illustrates a support level at 8.32, which if violated will result in even more drops to 8.23. On the upside, there is a resistance level at 8.50. A further resistance level may holdings at 8.60. The Relative Strength Index (RSI) on the 14-day chart is 41.99, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.05, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 41.05%. Stochastics %K at 56.14% indicates the stock is a holding.

How much short interest is there in Kennedy-Wilson Holdings Inc?

A steep rise in short interest was recorded in Kennedy-Wilson Holdings Inc stocks on Feb 29, 2024, growing by 1.62 million shares to a total of 8.12 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 6.5 million shares. There was a rise of 19.95%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 12.51% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.97.

The most recent change occurred on April 18, 2019 when Evercore ISI began covering the stock and recommended ‘”an Outperform”‘ rating.

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