Bleakley Financial Group LLC Takes $284,000 Position in Kyndryl Holdings, Inc. (NYSE:KD)

Bleakley Financial Group LLC bought a new stake in Kyndryl Holdings, Inc. (NYSE:KD) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,686 shares of the company’s stock, valued at approximately $284,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Teachers Retirement System lifted its stake in shares of Kyndryl by 0.9% in the fourth quarter. New York State Teachers Retirement System now owns 208,389 shares of the company’s stock valued at $4,330,000 after purchasing an additional 1,900 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Kyndryl in the fourth quarter valued at about $1,664,000. Hennessy Advisors Inc. acquired a new stake in shares of Kyndryl in the fourth quarter valued at about $28,992,000. Silverberg Bernstein Capital Management LLC acquired a new position in Kyndryl during the fourth quarter worth about $739,000. Finally, Pacer Advisors Inc. raised its position in Kyndryl by 79.9% during the fourth quarter. Pacer Advisors Inc. now owns 34,489 shares of the company’s stock worth $717,000 after acquiring an additional 15,318 shares during the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KD. Susquehanna upgraded shares of Kyndryl from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $19.00 to $27.00 in a research report on Monday, February 12th. JPMorgan Chase & Co. upgraded shares of Kyndryl from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $20.00 to $25.00 in a research report on Monday, December 18th. Finally, Evercore ISI upgraded shares of Kyndryl from an “in-line” rating to an “outperform” rating and set a $26.00 target price for the company in a research report on Monday, January 8th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $25.00.

Kyndryl Stock Performance

NYSE:KD opened at $20.07 on Tuesday. The firm has a 50 day simple moving average of $21.60 and a 200-day simple moving average of $19.35. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $4.62 billion, a PE ratio of -4.43, a P/E/G ratio of 5.76 and a beta of 1.55. Kyndryl Holdings, Inc. has a 1-year low of $11.35 and a 1-year high of $22.90.

Kyndryl (NYSE:KD) last posted its quarterly earnings data on Tuesday, February 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.14). The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. Kyndryl had a negative net margin of 6.27% and a negative return on equity of 7.39%. On average, equities analysts expect that Kyndryl Holdings, Inc. will post -0.57 EPS for the current year.

About Kyndryl

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.