Millennium Management LLC Raises Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Millennium Management LLC boosted its position in Kyndryl Holdings, Inc. (NYSE:KD) by 101.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,011,420 shares of the company’s stock after acquiring an additional 508,553 shares during the period. Millennium Management LLC owned 0.44% of Kyndryl worth $26,610,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of KD. Greenlight Capital Inc. increased its stake in shares of Kyndryl by 13.7% during the fourth quarter. Greenlight Capital Inc. now owns 6,356,069 shares of the company’s stock valued at $132,079,000 after buying an additional 767,943 shares during the period. Mesirow Institutional Investment Management Inc. bought a new stake in shares of Kyndryl during the 1st quarter valued at about $16,588,000. Great Lakes Advisors LLC purchased a new position in shares of Kyndryl during the second quarter valued at about $19,996,000. Renaissance Technologies LLC raised its stake in Kyndryl by 32.3% in the second quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company’s stock worth $72,768,000 after buying an additional 675,800 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Kyndryl by 392.1% in the second quarter. AQR Capital Management LLC now owns 631,299 shares of the company’s stock worth $16,578,000 after buying an additional 503,020 shares during the period. 71.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Oppenheimer began coverage on shares of Kyndryl in a research note on Thursday, June 27th. They set an “outperform” rating and a $33.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Kyndryl has a consensus rating of “Buy” and a consensus target price of $29.40.

Kyndryl Stock Up 1.3 %

Shares of Kyndryl stock opened at $23.11 on Friday. The stock has a market capitalization of $5.33 billion, a PE ratio of -15.51, a price-to-earnings-growth ratio of 5.32 and a beta of 1.63. Kyndryl Holdings, Inc. has a 52-week low of $13.87 and a 52-week high of $28.60. The company has a debt-to-equity ratio of 2.82, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50-day simple moving average of $23.51 and a two-hundred day simple moving average of $24.04.

Kyndryl (NYSE:KD) last issued its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.78 billion. Kyndryl had a negative return on equity of 3.28% and a negative net margin of 1.21%. On average, analysts anticipate that Kyndryl Holdings, Inc. will post 0.89 EPS for the current fiscal year.

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.