Short Interest in KKR & Co Inc (KKR) Grows By 87.7%

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KKR & Co Inc (NYSE:KKR) was the recipient of a large growth in short interest during the month of September. As of September 28th, there was short interest totalling 18,770,293 shares, a growth of 87.7% from the September 14th total of 9,999,073 shares. Based on an average daily trading volume, of 11,556,287 shares, the short-interest ratio is currently 1.6 days. Currently, 3.9% of the company’s stock are short sold.

Shares of NYSE:KKR opened at $24.49 on Friday. The stock has a market capitalization of $14.31 billion, a PE ratio of 10.29, a PEG ratio of 1.41 and a beta of 1.61. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.87. KKR & Co Inc has a fifty-two week low of $18.74 and a fifty-two week high of $28.73.

KKR & Co Inc (NYSE:KKR) last issued its earnings results on Thursday, July 26th. The asset manager reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.03. The business had revenue of $398.00 million for the quarter, compared to the consensus estimate of $391.74 million. KKR & Co Inc had a net margin of 39.10% and a return on equity of 7.34%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 earnings per share. On average, equities analysts predict that KKR & Co Inc will post 1.65 earnings per share for the current fiscal year.

KKR has been the topic of several research reports. Zacks Investment Research downgraded shares of KKR & Co Inc from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 24th. Oppenheimer set a $35.00 price objective on shares of KKR & Co Inc and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $35.00 price objective on shares of KKR & Co Inc in a research report on Friday, July 27th. Bank of America downgraded shares of KKR & Co Inc from a “buy” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a research report on Wednesday. Finally, Deutsche Bank lowered their price objective on shares of KKR & Co Inc from $29.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. KKR & Co Inc currently has an average rating of “Buy” and an average price target of $30.45.

In related news, major shareholder Fund Holdings L.P. Kkr sold 1,742,007 shares of the stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $38.26, for a total value of $66,649,187.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders purchased 130,656 shares of company stock worth $1,914,185 and sold 15,225,220 shares worth $533,613,038.

Several large investors have recently modified their holdings of the company. FMR LLC boosted its holdings in shares of KKR & Co Inc by 4.6% in the second quarter. FMR LLC now owns 27,636,830 shares of the asset manager’s stock valued at $686,775,000 after acquiring an additional 1,202,775 shares in the last quarter. Vulcan Value Partners LLC acquired a new stake in shares of KKR & Co Inc in the second quarter valued at about $388,743,000. Principal Financial Group Inc. lifted its stake in shares of KKR & Co Inc by 1.7% in the first quarter. Principal Financial Group Inc. now owns 14,541,128 shares of the asset manager’s stock valued at $295,185,000 after purchasing an additional 237,568 shares during the period. Akre Capital Management LLC lifted its stake in shares of KKR & Co Inc by 108.3% in the second quarter. Akre Capital Management LLC now owns 10,000,000 shares of the asset manager’s stock valued at $248,500,000 after purchasing an additional 5,200,000 shares during the period. Finally, Putnam Investments LLC lifted its stake in shares of KKR & Co Inc by 21.8% in the second quarter. Putnam Investments LLC now owns 9,437,050 shares of the asset manager’s stock valued at $234,511,000 after purchasing an additional 1,690,630 shares during the period. 62.37% of the stock is currently owned by institutional investors and hedge funds.

About KKR & Co Inc

KKR & Co L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, and middle market investments.

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