Traders Buy Large Volume of Kyndryl Put Options (NYSE:KD)

Kyndryl Holdings, Inc. (NYSE:KD) was the target of some unusual options trading on Wednesday. Investors bought 15,426 put options on the company. This is an increase of approximately 737% compared to the average daily volume of 1,843 put options.

Analyst Ratings Changes

A number of equities analysts have weighed in on KD shares. Zacks Research upgraded shares of Kyndryl from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Kyndryl in a research report on Monday, June 15th. Susquehanna lowered Kyndryl from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $13.00 in a research report on Thursday, May 21st. Wall Street Zen cut shares of Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Scotiabank cut their price objective 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. Seven analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Kyndryl presently has an average rating of “Reduce” and a consensus target price of $16.67.

Kyndryl Price Performance

KD traded down $1.57 on Wednesday, reaching $13.12. The company had a trading volume of 2,232,066 shares, compared to its average volume of 4,643,582. The company has a market capitalization of $2.89 billion, a P/E ratio of 15.44 and a beta of 1.65. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.77. The company has a fifty day moving average of $12.04 and a 200-day moving average of $13.82. Kyndryl has a one year low of $10.10 and a one year high of $33.90.

Kyndryl (NYSE:KD) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the previous year, the business earned $0.37 EPS. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Kyndryl will post 1.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC grew its position in Kyndryl by 386.2% during the 3rd quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock worth $125,113,000 after purchasing an additional 3,326,025 shares in the last quarter. Cooper Creek Partners Management LLC lifted its holdings in shares of Kyndryl by 498.5% in the first quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company’s stock valued at $51,115,000 after purchasing an additional 3,245,013 shares in the last quarter. Sound Shore Management Inc. CT boosted its position in shares of Kyndryl by 39.5% in the first quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock worth $54,422,000 after buying an additional 1,173,761 shares during the period. Norges Bank acquired a new stake in shares of Kyndryl in the fourth quarter worth $19,539,000. Finally, UBS Group AG grew its holdings 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 in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Company 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.