Greenwich Wealth Management LLC Lowers Stock Position in Kyndryl Holdings, Inc. (NYSE:KD)

Greenwich Wealth Management LLC trimmed its position in Kyndryl Holdings, Inc. (NYSE:KD) by 8.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,979 shares of the company’s stock after selling 2,528 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Kyndryl were worth $736,000 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. Norges Bank bought a new position in shares of Kyndryl in the fourth quarter worth approximately $54,283,000. Hennessy Advisors Inc. purchased a new position in shares of Kyndryl in the fourth quarter valued at about $28,992,000. Greenlight Capital Inc. boosted its stake in shares of Kyndryl by 13.7% in the fourth quarter. Greenlight Capital Inc. now owns 6,356,069 shares of the company’s stock worth $132,079,000 after acquiring an additional 767,943 shares during the period. Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Kyndryl during the first quarter worth about $16,588,000. Finally, Great Lakes Advisors LLC purchased a new position in Kyndryl in the 2nd quarter worth approximately $19,996,000. Institutional investors own 71.53% of the company’s stock.

Kyndryl Stock Up 0.2 %

Shares of NYSE KD opened at $22.93 on Monday. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of -15.39, a P/E/G ratio of 4.77 and a beta of 1.64. Kyndryl Holdings, Inc. has a 12-month low of $13.87 and a 12-month high of $28.60. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.82. The firm’s 50-day moving average price is $24.45 and its 200-day moving average price is $23.94.

Kyndryl (NYSE:KD) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The business 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%. On average, equities research analysts anticipate that Kyndryl Holdings, Inc. will post 0.95 EPS for the current fiscal year.

Analysts Set New Price Targets

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 price objective on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $29.40.

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.