GMT Capital Corp Reduces Stock Holdings in Kyndryl Holdings, Inc. $KD

GMT Capital Corp reduced its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 18.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,930,860 shares of the company’s stock after selling 434,000 shares during the period. Kyndryl makes up 2.7% of GMT Capital Corp’s holdings, making the stock its 13th biggest holding. GMT Capital Corp’s holdings in Kyndryl were worth $51,284,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Kyndryl by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 28,331,302 shares of the company’s stock valued at $752,479,000 after buying an additional 144,625 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Kyndryl by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,684,443 shares of the company’s stock valued at $124,420,000 after buying an additional 76,614 shares during the period. Geode Capital Management LLC raised its holdings in shares of Kyndryl by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company’s stock valued at $118,997,000 after buying an additional 63,846 shares during the period. AQR Capital Management LLC raised its holdings in shares of Kyndryl by 386.2% during the 3rd quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock valued at $125,113,000 after buying an additional 3,326,025 shares during the period. Finally, Sound Shore Management Inc. CT increased its holdings in Kyndryl by 46.1% during the 4th quarter. Sound Shore Management Inc. CT now owns 2,974,223 shares of the company’s stock worth $78,995,000 after purchasing an additional 939,154 shares during the last quarter. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Price Performance

KD stock opened at $11.69 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.77. Kyndryl Holdings, Inc. has a 52-week low of $10.10 and a 52-week high of $44.20. The stock’s 50 day moving average is $12.66 and its two-hundred day moving average is $17.65. The company has a market capitalization of $2.57 billion, a PE ratio of 13.75 and a beta of 1.66.

Kyndryl (NYSE:KD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.25). Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Kyndryl’s revenue for the quarter was down .8% compared to the same quarter last year. Analysts predict that Kyndryl Holdings, Inc. will post 1.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on KD shares. Wall Street Zen downgraded Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research downgraded Kyndryl from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Weiss Ratings downgraded Kyndryl from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, March 18th. Scotiabank dropped their price objective on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, May 8th. Finally, Morgan Stanley dropped their price objective on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 24th. Six analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $22.14.

Kyndryl Company Profile

Kyndryl (NYSE: KD) is a global managed infrastructure services provider formed in November 2021 through the spin-off of IBM’s Managed Infrastructure Services business. The company designs, builds, manages and modernizes critical information technology systems for enterprises worldwide. Kyndryl’s core offerings include cloud migration and management, network and edge computing solutions, digital workplace services and IT resiliency and security capabilities.

With a workforce of approximately 90,000 professionals and operations in more than 60 countries, Kyndryl serves clients across a broad range of industries, including financial services, telecommunications, healthcare, manufacturing and retail.