CastleKnight Management LP Takes $4.12 Million Position in Kyndryl Holdings, Inc. $KD

CastleKnight Management LP bought a new stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) during the 4th quarter, Holdings Channel reports. The fund bought 155,200 shares of the company’s stock, valued at approximately $4,122,000.

Several other hedge funds have also recently made changes to their positions in KD. AQR Capital Management LLC increased its stake in shares of Kyndryl by 386.2% during the third quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock valued at $125,113,000 after buying an additional 3,326,025 shares during the period. Vanguard Group Inc. increased its stake in shares of Kyndryl by 6.1% during the third quarter. Vanguard Group Inc. now owns 28,186,677 shares of the company’s stock valued at $846,446,000 after buying an additional 1,619,048 shares during the period. Sound Shore Management Inc. CT increased its stake in shares of Kyndryl by 46.1% during the fourth quarter. Sound Shore Management Inc. CT now owns 2,974,223 shares of the company’s stock valued at $78,995,000 after buying an additional 939,154 shares during the period. Norges Bank purchased a new position in shares of Kyndryl during the fourth quarter valued at approximately $19,539,000. Finally, UBS Group AG increased its stake in shares of Kyndryl by 50.0% during the third quarter. UBS Group AG now owns 2,028,338 shares of the company’s stock valued at $60,911,000 after buying an additional 675,943 shares during the period. 71.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KD shares. Zacks Research cut Kyndryl from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Wall Street Zen cut Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Scotiabank reduced their price target on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, May 8th. Susquehanna cut Kyndryl from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $16.00 to $13.00 in a research note on Thursday, May 21st. Finally, Morgan Stanley reduced their price target on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 24th. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $22.14.

Kyndryl Price Performance

Shares of KD stock opened at $11.44 on Thursday. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 13.46 and a beta of 1.66. The business’s fifty day moving average is $12.57 and its 200 day moving average is $17.32. Kyndryl Holdings, Inc. has a twelve month low of $10.10 and a twelve month high of $44.20. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.77.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.25). The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.Kyndryl’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 earnings per share. Research analysts expect that Kyndryl Holdings, Inc. will post 1.59 EPS for the current fiscal year.

Kyndryl Profile

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.