Gabelli Funds LLC Lowers Position in Kyndryl Holdings, Inc. (NYSE:KD)

Gabelli Funds LLC trimmed its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 15.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,587 shares of the company’s stock after selling 15,000 shares during the quarter. Gabelli Funds LLC’s holdings in Kyndryl were worth $2,094,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new position in Kyndryl during the first quarter worth $26,000. ORG Partners LLC raised its holdings in shares of Kyndryl by 622.4% in the 1st quarter. ORG Partners LLC now owns 1,416 shares of the company’s stock valued at $31,000 after buying an additional 1,220 shares during the period. Headlands Technologies LLC lifted its stake in Kyndryl by 60.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,475 shares of the company’s stock worth $39,000 after acquiring an additional 554 shares in the last quarter. Atlas Capital Advisors LLC purchased a new position in Kyndryl during the 1st quarter valued at about $33,000. Finally, Fortis Group Advisors LLC grew its position in Kyndryl by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock valued at $33,000 after acquiring an additional 800 shares in the last quarter. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Trading Down 3.2 %

NYSE:KD opened at $22.70 on Thursday. The stock has a fifty day moving average price of $23.96 and a 200 day moving average price of $24.01. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.82. Kyndryl Holdings, Inc. has a 12-month low of $13.87 and a 12-month high of $28.60. The firm has a market cap of $5.25 billion, a PE ratio of -15.23, a price-to-earnings-growth ratio of 5.32 and a beta of 1.64.

Kyndryl (NYSE:KD) last announced its quarterly earnings data 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. Kyndryl had a negative return on equity of 3.28% and a negative net margin of 1.21%. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Sell-side analysts anticipate that Kyndryl Holdings, Inc. will post 0.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Oppenheimer started coverage on shares of Kyndryl in a research report on Thursday, June 27th. They set an “outperform” rating and a $33.00 price target on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kyndryl currently has an average rating of “Buy” and a consensus 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.