Algert Global LLC Boosts Stock Position in Kyndryl Holdings, Inc. (NYSE:KD)

Algert Global LLC boosted its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 52.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 151,167 shares of the company’s stock after purchasing an additional 52,077 shares during the quarter. Algert Global LLC owned about 0.07% of Kyndryl worth $3,977,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in Kyndryl during the 1st quarter valued at approximately $26,000. ORG Partners LLC increased its stake in Kyndryl by 622.4% in the 1st quarter. ORG Partners LLC now owns 1,416 shares of the company’s stock worth $31,000 after acquiring an additional 1,220 shares during the last quarter. Fortis Group Advisors LLC increased its stake in Kyndryl by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock worth $33,000 after acquiring an additional 800 shares during the last quarter. Atlas Capital Advisors LLC bought a new stake in Kyndryl in the 1st quarter worth approximately $33,000. Finally, Headlands Technologies LLC increased its stake in Kyndryl by 60.2% in 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 during the last quarter. Institutional investors own 71.53% of the company’s stock.

Wall Street Analyst Weigh In

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

Kyndryl Stock Performance

NYSE KD opened at $22.98 on Tuesday. The company has a market cap of $5.30 billion, a P/E ratio of -15.42, a P/E/G ratio of 5.32 and a beta of 1.64. 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 business’s 50 day moving average price is $23.79 and its 200-day moving average price is $24.03. Kyndryl Holdings, Inc. has a fifty-two week low of $13.87 and a fifty-two week high of $28.60.

Kyndryl (NYSE:KD) last released its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.78 billion. Kyndryl had a negative return on equity of 3.28% and a negative net margin of 1.21%. Sell-side analysts predict that Kyndryl Holdings, Inc. will post 0.89 earnings per share 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.