GMT Capital Corp Lowers Holdings in Kyndryl Holdings, Inc. $KD

GMT Capital Corp decreased its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 18.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,930,860 shares of the company’s stock after selling 434,000 shares during the quarter. Kyndryl makes up approximately 2.7% of GMT Capital Corp’s holdings, making the stock its 13th largest holding. GMT Capital Corp owned 0.84% of Kyndryl worth $51,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Atlas Capital Advisors Inc. purchased a new stake in Kyndryl in the 4th quarter valued at about $134,000. Marshall Wace LLP purchased a new stake in Kyndryl in the 4th quarter valued at about $3,353,000. Quarry LP purchased a new stake in Kyndryl in the 4th quarter valued at about $31,000. Bridgefront Capital LLC grew its holdings in Kyndryl by 35.0% in the 4th quarter. Bridgefront Capital LLC now owns 19,407 shares of the company’s stock valued at $515,000 after buying an additional 5,035 shares during the period. Finally, Bank of Nova Scotia purchased a new stake in Kyndryl in the 4th quarter valued at about $2,662,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on KD shares. Wall Street Zen cut Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. BMO Capital Markets began coverage on Kyndryl in a research note on Monday, April 20th. They issued a “market perform” rating and a $15.00 price objective on the stock. Scotiabank reduced their price objective on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, May 8th. Susquehanna lowered Kyndryl from a “positive” rating to a “neutral” rating and reduced their price objective for the company from $16.00 to $13.00 in a research note on Thursday, May 21st. Finally, Morgan Stanley reduced their price objective on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 24th. Six equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Kyndryl has a consensus rating of “Reduce” and a consensus price target of $22.14.

Kyndryl Stock Performance

NYSE KD opened at $11.69 on Friday. The firm has a market capitalization of $2.57 billion, a P/E ratio of 13.75 and a beta of 1.66. Kyndryl Holdings, Inc. has a 1-year low of $10.10 and a 1-year high of $44.20. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.88 and a quick ratio of 0.88. The business’s 50-day simple moving average is $12.66 and its 200-day simple moving average is $17.65.

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

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.