Cacti Asset Management LLC Purchases 43,000 Shares of KKR & Co. L.P. (KKR)
Cacti Asset Management LLC lifted its position in shares of KKR & Co. L.P. (NYSE:KKR) by 30.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 183,000 shares of the asset manager’s stock after acquiring an additional 43,000 shares during the quarter. Cacti Asset Management LLC’s holdings in KKR & Co. L.P. were worth $3,644,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Advisory Services Network LLC raised its position in shares of KKR & Co. L.P. by 1.8% during the second quarter. Advisory Services Network LLC now owns 6,405 shares of the asset manager’s stock worth $119,000 after acquiring an additional 115 shares during the last quarter. Investment Centers of America Inc. bought a new stake in shares of KKR & Co. L.P. during the first quarter worth $184,000. Laurel Wealth Advisors Inc. raised its position in shares of KKR & Co. L.P. by 0.6% during the second quarter. Laurel Wealth Advisors Inc. now owns 10,917 shares of the asset manager’s stock worth $203,000 after acquiring an additional 67 shares during the last quarter. Synovus Financial Corp bought a new stake in shares of KKR & Co. L.P. during the second quarter worth $205,000. Finally, FineMark National Bank & Trust raised its position in shares of KKR & Co. L.P. by 8.8% during the second quarter. FineMark National Bank & Trust now owns 11,204 shares of the asset manager’s stock worth $208,000 after acquiring an additional 904 shares during the last quarter. Institutional investors own 65.12% of the company’s stock.
In related news, Director Robert W. Scully bought 55,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was acquired at an average cost of $18.21 per share, with a total value of $1,001,550.00. Following the transaction, the director now directly owns 49,495 shares in the company, valued at $901,303.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on KKR & Co. L.P. from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. ValuEngine upgraded KKR & Co. L.P. from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 30th. Zacks Investment Research downgraded KKR & Co. L.P. from a “buy” rating to a “sell” rating in a research report on Wednesday, October 11th. Keefe, Bruyette & Woods restated a “buy” rating and set a $27.00 target price on shares of KKR & Co. L.P. in a research report on Thursday, October 12th. Finally, Goldman Sachs Group, Inc. (The) upgraded KKR & Co. L.P. from a “neutral” rating to a “buy” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $21.80.
KKR & Co. L.P. (NYSE KKR) traded down 0.0272% during midday trading on Tuesday, reaching $20.1945. The company had a trading volume of 303,171 shares. KKR & Co. L.P. has a 12-month low of $13.58 and a 12-month high of $20.64. The company has a market capitalization of $9.49 billion, a PE ratio of 8.6486 and a beta of 1.53. The stock has a 50-day moving average price of $19.39 and a 200 day moving average price of $18.75.
KKR & Co. L.P. (NYSE:KKR) last announced its earnings results on Thursday, July 27th. The asset manager reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.26. The business had revenue of $365.16 million during the quarter, compared to analyst estimates of $300.74 million. KKR & Co. L.P. had a return on equity of 11.45% and a net margin of 42.48%. During the same period last year, the company earned $0.19 EPS. Equities analysts forecast that KKR & Co. L.P. will post $2.53 EPS for the current year.
About KKR & Co. L.P.
KKR & CO. L.P. (KKR) is a global investment firm that manages investments across multiple asset classes, including private equity, energy, infrastructure, real estate, credit and hedge funds. The Company’s business offers a range of investment management services to its fund investors, and provides capital markets services to its firm, its portfolio companies and third parties.
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