SummerHaven Investment Management LLC Increases Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

SummerHaven Investment Management LLC raised its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,484 shares of the company’s stock after purchasing an additional 594 shares during the period. Kyndryl makes up approximately 0.8% of SummerHaven Investment Management LLC’s holdings, making the stock its 8th biggest position. SummerHaven Investment Management LLC’s holdings in Kyndryl were worth $1,174,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Kyndryl in the third quarter worth $963,000. State of Alaska Department of Revenue raised its holdings in shares of Kyndryl by 7.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 27,392 shares of the company’s stock worth $413,000 after buying an additional 2,015 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Kyndryl by 33.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 38,100 shares of the company’s stock valued at $575,000 after buying an additional 9,500 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Kyndryl by 5.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 18,733 shares of the company’s stock worth $283,000 after acquiring an additional 1,029 shares in the last quarter. Finally, Xponance Inc. lifted its holdings in shares of Kyndryl by 9.8% during the third quarter. Xponance Inc. now owns 27,443 shares of the company’s stock valued at $414,000 after acquiring an additional 2,451 shares during the period. Institutional investors own 71.53% of the company’s stock.

Kyndryl Stock Up 2.2 %

NYSE KD traded up $0.42 on Monday, hitting $19.91. 385,898 shares of the company were exchanged, compared to its average volume of 1,506,075. Kyndryl Holdings, Inc. has a 1-year low of $11.35 and a 1-year high of $22.90. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.03. The firm has a 50 day moving average of $21.37 and a two-hundred day moving average of $19.65.

Kyndryl (NYSE:KD) last posted its quarterly earnings data on Tuesday, February 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.14). The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. Kyndryl had a negative return on equity of 7.39% and a negative net margin of 6.27%. On average, research analysts expect that Kyndryl Holdings, Inc. will post -0.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KD. Evercore ISI raised shares of Kyndryl from an “in-line” rating to an “outperform” rating and set a $26.00 price target for the company in a report on Monday, January 8th. Susquehanna raised Kyndryl from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $19.00 to $27.00 in a report on Monday, February 12th.

Kyndryl Company 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.