Insider Selling: KKR & Co. L.P. General Counsel Sells 25,000 Shares of Stock (KKR)
KKR & Co. L.P. (NYSE:KKR) General Counsel David Sorkin sold 25,000 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $23.03, for a total value of $575,750.00. Following the transaction, the general counsel now directly owns 8,475 shares in the company, valued at approximately $195,179. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of KKR & Co. L.P. (NYSE:KKR) traded down 0.56% during mid-day trading on Tuesday, hitting $22.91. 1,869,265 shares of the company’s stock traded hands. KKR & Co. L.P. has a one year low of $17.27 and a one year high of $26.50. The stock has a 50-day moving average of $22.92 and a 200-day moving average of $23.74. The company has a market cap of $9.347 billion and a P/E ratio of 10.13. KKR & Co. L.P. also saw a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 5,817,817 shares, a decline of 62.0% from the April 30th total of 15,300,088 shares. Approximately 2.1% of the shares of the company are short sold. Based on an average trading volume of 3,804,358 shares, the days-to-cover ratio is presently 1.5 days.
KKR & Co. L.P. (NYSE:KKR) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.52 by $0.30. The company had revenue of $302.93 million for the quarter, compared to the consensus estimate of $279.30 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. The company’s quarterly revenue was up 100.3% on a year-over-year basis. On average, analysts predict that KKR & Co. L.P. will post $2.72 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on KKR shares. Analysts at Evercore Partners upgraded shares of KKR & Co. L.P. from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 13th. They now have a $28.00 price target on the stock. Separately, analysts at Goldman Sachs initiated coverage on shares of KKR & Co. L.P. in a research note on Monday, May 12th. They set a “buy” rating and a $28.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of KKR & Co. L.P. in a research note on Friday, April 25th. They now have a $25.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. KKR & Co. L.P. currently has an average rating of “Buy” and a consensus price target of $26.38.
KKR & Co L.P. (NYSE:KKR), is a global investment company.
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