Castleark Management LLC Cuts Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Castleark Management LLC trimmed its position in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 40.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 202,550 shares of the company's stock after selling 135,420 shares during the period. Castleark Management LLC owned 0.09% of Kyndryl worth $7,008,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Kyndryl in the 4th quarter worth approximately $30,000. True Wealth Design LLC raised its holdings in Kyndryl by 150.6% in the 4th quarter. True Wealth Design LLC now owns 872 shares of the company's stock worth $30,000 after acquiring an additional 524 shares during the period. Millstone Evans Group LLC acquired a new position in shares of Kyndryl during the 4th quarter worth about $35,000. Picton Mahoney Asset Management bought a new stake in shares of Kyndryl in the fourth quarter valued at approximately $38,000. Finally, EverSource Wealth Advisors LLC grew its position in Kyndryl by 35.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company's stock worth $39,000 after purchasing an additional 297 shares during the last quarter. 71.53% of the stock is owned by institutional investors.

Kyndryl Stock Performance

Shares of KD traded down $0.48 during trading hours on Monday, hitting $38.87. The company had a trading volume of 1,089,385 shares, compared to its average volume of 2,019,559. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55. The firm has a market cap of $9.04 billion, a price-to-earnings ratio of 70.67, a PEG ratio of 10.84 and a beta of 1.91. The business has a fifty day moving average of $33.43 and a 200-day moving average of $35.15. Kyndryl Holdings, Inc. has a 12 month low of $21.34 and a 12 month high of $43.61.

Kyndryl (NYSE:KD - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, hitting analysts' consensus estimates of $0.52. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.77 billion. Kyndryl had a net margin of 0.91% and a return on equity of 7.22%. The firm's revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) EPS. Equities analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KD. Wall Street Zen downgraded shares of Kyndryl from a "strong-buy" rating to a "buy" rating in a report on Saturday. Susquehanna cut their price target on Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Finally, Oppenheimer lifted their target price on Kyndryl from $43.00 to $47.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th.

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.