Newbridge Financial Services Group Inc. Sells 8,000 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Newbridge Financial Services Group Inc. trimmed its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 89.2% in the second quarter, Holdings Channel reports. The firm owned 970 shares of the company’s stock after selling 8,000 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Kyndryl were worth $26,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in Kyndryl by 33.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company’s stock valued at $44,000 after acquiring an additional 422 shares in the last quarter. Creative Planning raised its holdings in Kyndryl by 11.2% in the 2nd quarter. Creative Planning now owns 41,615 shares of the company’s stock valued at $1,095,000 after acquiring an additional 4,192 shares in the last quarter. Algert Global LLC raised its holdings in shares of Kyndryl by 52.6% during the 2nd quarter. Algert Global LLC now owns 151,167 shares of the company’s stock worth $3,977,000 after buying an additional 52,077 shares in the last quarter. Scientech Research LLC acquired a new position in shares of Kyndryl during the 2nd quarter worth $480,000. Finally, Mackenzie Financial Corp raised its holdings in shares of Kyndryl by 47.2% during the 2nd quarter. Mackenzie Financial Corp now owns 810,488 shares of the company’s stock worth $21,324,000 after buying an additional 259,824 shares in the last quarter. 71.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Oppenheimer assumed coverage on Kyndryl in a research report on Thursday, June 27th. They set an “outperform” rating and a $33.00 price objective on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $29.40.

Kyndryl Trading Up 2.3 %

NYSE KD opened at $23.64 on Friday. The business’s 50-day moving average price is $23.38 and its two-hundred day moving average price is $24.04. Kyndryl Holdings, Inc. has a 12 month low of $13.87 and a 12 month high of $28.60. The firm has a market capitalization of $5.45 billion, a PE ratio of -15.87, a price-to-earnings-growth ratio of 5.32 and a beta of 1.63. 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 (NYSE:KD) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.78 billion. On average, analysts expect that Kyndryl Holdings, Inc. will post 0.89 EPS for the current year.

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.