Arnhold LLC Lowers Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Arnhold LLC lowered its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 12.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,055,667 shares of the company’s stock after selling 151,696 shares during the period. Kyndryl makes up about 2.5% of Arnhold LLC’s holdings, making the stock its 10th biggest position. Arnhold LLC’s holdings in Kyndryl were worth $21,937,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raleigh Capital Management Inc. grew its stake in Kyndryl by 100.3% during the third quarter. Raleigh Capital Management Inc. now owns 3,030 shares of the company’s stock valued at $46,000 after acquiring an additional 1,517 shares in the last quarter. Huntington National Bank grew its stake in Kyndryl by 32.9% during the third quarter. Huntington National Bank now owns 3,714 shares of the company’s stock valued at $56,000 after acquiring an additional 919 shares in the last quarter. Systematic Alpha Investments LLC purchased a new position in Kyndryl during the third quarter valued at approximately $73,000. RIA Advisory Group LLC purchased a new position in Kyndryl in the 4th quarter worth approximately $138,000. Finally, Cerity Partners LLC purchased a new position in Kyndryl in the 4th quarter worth approximately $206,000. Institutional investors own 71.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Susquehanna raised shares of Kyndryl from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $19.00 to $27.00 in a research note on Monday, February 12th. Evercore ISI raised shares of Kyndryl from an “in-line” rating to an “outperform” rating and set a $26.00 price objective for the company in a research note on Monday, January 8th.

Kyndryl Trading Down 0.9 %

NYSE KD traded down $0.18 during trading on Tuesday, hitting $19.66. The company had a trading volume of 1,773,109 shares, compared to its average volume of 1,535,737. The company’s fifty day moving average is $21.34 and its 200-day moving average is $19.68. The company has a market cap of $4.52 billion, a price-to-earnings ratio of -4.38, a price-to-earnings-growth ratio of 5.49 and a beta of 1.55. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.03. Kyndryl Holdings, Inc. has a one year low of $11.35 and a one year high of $22.90.

Kyndryl (NYSE:KD) last released its earnings results on Tuesday, February 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.14). The business had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Kyndryl had a negative return on equity of 7.39% and a negative net margin of 6.27%. On average, sell-side analysts predict that Kyndryl Holdings, Inc. will post -0.57 earnings per share for the current year.

Kyndryl Profile

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.