Sterneck Capital Management LLC Grows Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Sterneck Capital Management LLC raised its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 22.0% in the 3rd quarter, Holdings Channel reports. The fund owned 25,697 shares of the company’s stock after acquiring an additional 4,637 shares during the quarter. Sterneck Capital Management LLC’s holdings in Kyndryl were worth $591,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted 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 purchasing an additional 422 shares in the last quarter. Simplicity Wealth LLC lifted its holdings in shares of Kyndryl by 3.0% in the 2nd quarter. Simplicity Wealth LLC now owns 15,745 shares of the company’s stock valued at $414,000 after buying an additional 454 shares during the period. Headlands Technologies LLC boosted its stake in shares of Kyndryl by 60.2% in the second quarter. Headlands Technologies LLC now owns 1,475 shares of the company’s stock valued at $39,000 after buying an additional 554 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in Kyndryl by 1.0% during the second quarter. SummerHaven Investment Management LLC now owns 57,493 shares of the company’s stock worth $1,513,000 after acquiring an additional 563 shares during the period. Finally, Alpha Omega Wealth Management LLC raised its position in Kyndryl by 0.8% in the first quarter. Alpha Omega Wealth Management LLC now owns 95,307 shares of the company’s stock worth $2,074,000 after acquiring an additional 730 shares in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Stock Performance

KD opened at $23.11 on Friday. Kyndryl Holdings, Inc. has a 1-year low of $13.87 and a 1-year high of $28.60. The stock has a market cap of $5.33 billion, a P/E ratio of -15.51, a P/E/G ratio of 5.32 and a beta of 1.63. The stock’s 50 day simple moving average is $23.44 and its 200 day simple moving average is $24.03. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.03 and a quick ratio of 1.03.

Kyndryl (NYSE:KD) last posted its earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, topping 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 company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.78 billion. As a group, equities analysts anticipate that Kyndryl Holdings, Inc. will post 0.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.