Sky Investment Group LLC Acquires 27,880 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Sky Investment Group LLC raised its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 54.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,095 shares of the company’s stock after acquiring an additional 27,880 shares during the quarter. Sky Investment Group LLC’s holdings in Kyndryl were worth $1,818,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tidal Investments LLC grew its holdings in shares of Kyndryl by 240.7% during the first quarter. Tidal Investments LLC now owns 55,778 shares of the company’s stock worth $1,214,000 after buying an additional 39,408 shares in the last quarter. Bleakley Financial Group LLC increased its position in shares of Kyndryl by 11.8% in the first quarter. Bleakley Financial Group LLC now owns 15,307 shares of the company’s stock worth $333,000 after purchasing an additional 1,621 shares during the period. Sei Investments Co. raised its position in shares of Kyndryl by 23.4% in the 1st quarter. Sei Investments Co. now owns 260,771 shares of the company’s stock valued at $5,674,000 after buying an additional 49,520 shares in the last quarter. SG Americas Securities LLC bought a new stake in Kyndryl during the second quarter worth $1,418,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Kyndryl during the 1st quarter worth $26,000. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Price Performance

NYSE KD traded down $0.03 during trading on Tuesday, reaching $24.38. The company’s stock had a trading volume of 203,826 shares, compared to its average volume of 1,643,859. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a fifty day moving average of $23.55 and a 200 day moving average of $24.30. The stock has a market capitalization of $5.62 billion, a PE ratio of -16.39, a P/E/G ratio of 5.42 and a beta of 1.63. Kyndryl Holdings, Inc. has a one year low of $13.87 and a one year high of $28.60.

Kyndryl (NYSE:KD) last posted its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Kyndryl had a negative return on equity of 3.28% and a negative net margin of 1.21%. Analysts expect that Kyndryl Holdings, Inc. will post 0.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Oppenheimer assumed coverage on shares of Kyndryl in a research note on Thursday, June 27th. They set an “outperform” rating and a $33.00 price target for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Kyndryl has an average rating of “Buy” and an average price target of $29.40.

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.