Trading Report: The Concert Wealth Management Inc. Reduces Position in KKR & Co. L.P. (KKR)

The Concert Wealth Management Inc. Reduces Position in KKR & Co. L.P. (KKR)

Concert Wealth Management Inc. decreased its stake in KKR & Co. L.P. (NYSE:KKR) by 9.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 42,050 shares of the company’s stock after selling 4,175 shares during the period. Concert Wealth Management Inc.’s holdings in KKR & Co. L.P. were worth $517,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in KKR. Palo Capital Inc. bought a new stake in shares of KKR & Co. L.P. during the second quarter valued at approximately $176,000. First Dallas Securities Inc. acquired a new position in shares of KKR & Co. L.P. during the second quarter valued at about $182,000. Carroll Financial Associates Inc. raised its position in shares of KKR & Co. L.P. by 58.3% in the second quarter. Carroll Financial Associates Inc. now owns 16,293 shares of the company’s stock valued at $201,000 after buying an additional 6,003 shares during the period. BlackRock Japan Co. Ltd raised its position in shares of KKR & Co. L.P. by 15.2% in the first quarter. BlackRock Japan Co. Ltd now owns 14,315 shares of the company’s stock valued at $210,000 after buying an additional 1,890 shares during the period. Finally, Sigma Planning Corp raised its position in shares of KKR & Co. L.P. by 1.6% in the second quarter. Sigma Planning Corp now owns 17,300 shares of the company’s stock valued at $213,000 after buying an additional 272 shares during the period.

Shares of KKR & Co. L.P. (NYSE:KKR) traded down 1.229% during midday trading on Wednesday, reaching $14.065. The company had a trading volume of 699,157 shares. KKR & Co. L.P. has a one year low of $10.89 and a one year high of $19.20. The company’s market capitalization is $6.26 billion. The company has a 50-day moving average price of $14.53 and a 200 day moving average price of $13.83.

KKR & Co. L.P. (NYSE:KKR) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.18. The company had revenue of $576.76 million for the quarter, compared to the consensus estimate of $271.50 million. During the same quarter in the previous year, the business earned $0.88 earnings per share. KKR & Co. L.P.’s revenue was up 125.4% compared to the same quarter last year. Equities analysts anticipate that KKR & Co. L.P. will post $0.50 earnings per share for the current fiscal year.

KKR has been the topic of several recent analyst reports. Zacks Investment Research raised KKR & Co. L.P. from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Wednesday, September 28th. Vetr lowered KKR & Co. L.P. from a “strong-buy” rating to a “buy” rating and set a $13.45 price target on the stock. in a research note on Thursday, July 7th. Wells Fargo & Co. reissued a “buy” rating and issued a $16.00 price target on shares of KKR & Co. L.P. in a research note on Thursday, July 14th. Credit Suisse Group AG initiated coverage on KKR & Co. L.P. in a research note on Thursday, July 7th. They issued an “outperform” rating and a $16.00 price target on the stock. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $20.00 price target (down from $21.00) on shares of KKR & Co. L.P. in a research note on Monday, July 11th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. KKR & Co. L.P. presently has an average rating of “Buy” and a consensus price target of $17.88.

In other news, Director Robert W. Scully sold 168,400 shares of KKR & Co. L.P. stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $14.22, for a total value of $2,394,648.00. Following the sale, the director now directly owns 43,276 shares in the company, valued at approximately $615,384.72. The sale was disclosed in a filing with the SEC, which is available through this link.

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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