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Cathy Hendrickson, a director at Kennedy-Wilson Holdings, Inc. (NYSE:KW), recently sold 30,000 shares of the company’s common stock amid a significant 12.5% decline in share price over the past week. The sale, completed on March 14, amounted to a total value of $258,599, with shares sold at a weighted average price of $8.62. According to InvestingPro data, the stock is currently trading near its Fair Value, with analyst price targets ranging from $9 to $13. This transaction leaves Hendrickson with direct ownership of 98,318 shares. Additionally, she holds an indirect interest in 12,476 shares through the Hendrickson Family Trust. The shares were sold in a range of $8.53 to $8.71 per share. While the company has maintained dividend payments for 15 consecutive years, InvestingPro analysis reveals management has been actively buying back shares, with 8 additional key insights available to subscribers.
In other recent news, Kennedy-Wilson Holdings Inc reported a strong performance in Q4 2024, surpassing earnings expectations. The company achieved a GAAP earnings per share of $0.24, significantly outperforming the anticipated -$0.51. Revenue also exceeded forecasts, reaching $135.5 million compared to the expected $100.74 million. Notably, investment management revenue grew by 83% year-over-year, highlighting the company’s strategic focus on expanding this sector. Kennedy-Wilson also made substantial progress in reducing its unsecured debt by $262 million during the quarter. The firm plans to continue capital recycling efforts, targeting $400 million in asset sales for 2025. Analysts have expressed optimism about Kennedy-Wilson’s future, with the company aiming to grow its investment management fees by 20-25% annually, as noted by CEO Bill McMorrow.
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