Cooper Creek Partners Management LLC Grows Stock Position in Kyndryl Holdings, Inc. $KD

Cooper Creek Partners Management LLC raised its position in Kyndryl Holdings, Inc. (NYSE:KD) by 498.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,895,949 shares of the company’s stock after acquiring an additional 3,245,013 shares during the period. Kyndryl makes up about 1.7% of Cooper Creek Partners Management LLC’s holdings, making the stock its 21st largest holding. Cooper Creek Partners Management LLC’s holdings in Kyndryl were worth $51,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in KD. Douglas Lane & Associates LLC raised its stake in Kyndryl by 17.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 962,390 shares of the company’s stock valued at $25,561,000 after acquiring an additional 146,257 shares during the period. Vanguard Group Inc. lifted its holdings in Kyndryl by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 28,331,302 shares of the company’s stock valued at $752,479,000 after purchasing an additional 144,625 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Kyndryl by 5.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,658,549 shares of the company’s stock worth $42,276,000 after purchasing an additional 81,422 shares during the period. Geode Capital Management LLC boosted its position in Kyndryl by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company’s stock worth $118,997,000 after purchasing an additional 63,846 shares during the period. Finally, Waterfront Wealth Inc. bought a new position in Kyndryl during the first quarter worth about $2,740,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Kyndryl Stock Up 3.2%

Shares of NYSE KD opened at $12.03 on Friday. Kyndryl Holdings, Inc. has a 52 week low of $10.10 and a 52 week high of $39.98. The business has a 50-day simple moving average of $11.81 and a two-hundred day simple moving average of $14.57. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.77. The company has a market cap of $2.65 billion, a P/E ratio of 14.15 and a beta of 1.67.

Kyndryl (NYSE:KD) last posted its earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.25). Kyndryl had a net margin of 1.31% and a return on equity of 20.43%. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same period in the previous year, the firm earned $0.52 EPS. The firm’s quarterly revenue was down .8% compared to the same quarter last year. Research analysts anticipate that Kyndryl Holdings, Inc. will post 1.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on KD shares. BMO Capital Markets initiated coverage on shares of Kyndryl in a research report on Monday, April 20th. They issued a “market perform” rating and a $15.00 price target on the stock. Wall Street Zen cut shares of Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Susquehanna downgraded shares of Kyndryl from a “positive” rating to a “neutral” rating and cut their price objective for the stock from $16.00 to $13.00 in a report on Thursday, May 21st. Scotiabank reduced their price objective on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, May 8th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Kyndryl in a report on Monday, June 15th. Seven equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $16.67.

About Kyndryl

Kyndryl (NYSE: KD) is a global managed infrastructure services provider formed in November 2021 through the spin-off of IBM’s Managed Infrastructure Services business. The company designs, builds, manages and modernizes critical information technology systems for enterprises worldwide. Kyndryl’s core offerings include cloud migration and management, network and edge computing solutions, digital workplace services and IT resiliency and security capabilities.

With a workforce of approximately 90,000 professionals and operations in more than 60 countries, Kyndryl serves clients across a broad range of industries, including financial services, telecommunications, healthcare, manufacturing and retail.