Edgestream Partners L.P. Sells 75,577 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Edgestream Partners L.P. decreased its position in Kyndryl Holdings, Inc. (NYSE:KD) by 36.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 131,440 shares of the company’s stock after selling 75,577 shares during the quarter. Edgestream Partners L.P.’s holdings in Kyndryl were worth $3,458,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KD. Norges Bank bought a new stake in Kyndryl in the 4th quarter worth approximately $54,283,000. Hennessy Advisors Inc. bought a new stake in Kyndryl in the fourth quarter valued at approximately $28,992,000. Greenlight Capital Inc. lifted its position in Kyndryl by 13.7% in the fourth quarter. Greenlight Capital Inc. now owns 6,356,069 shares of the company’s stock valued at $132,079,000 after purchasing an additional 767,943 shares during the last quarter. Mesirow Institutional Investment Management Inc. bought a new stake in Kyndryl in the first quarter valued at approximately $16,588,000. Finally, Great Lakes Advisors LLC bought a new stake in Kyndryl in the second quarter valued at approximately $19,996,000. Institutional investors own 71.53% of the company’s stock.

Kyndryl Price Performance

Shares of Kyndryl stock opened at $22.95 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.82. The company has a market cap of $5.29 billion, a PE ratio of -15.40, a P/E/G ratio of 4.77 and a beta of 1.64. The business has a 50 day moving average of $24.33 and a 200 day moving average of $23.95. Kyndryl Holdings, Inc. has a 52 week low of $13.87 and a 52 week high of $28.60.

Kyndryl (NYSE:KD) last announced its earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $3.74 billion during 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%. As a group, equities research analysts forecast that Kyndryl Holdings, Inc. will post 0.95 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.