Engineers Gate Manager LP Sells 146,700 Shares of Kyndryl Holdings, Inc. $KD

Key Points

• Engineers Gate Manager LP cut its Kyndryl stake by 51.1% in the second quarter, selling 146,700 shares and retaining 140,317 shares valued at approximately $1.6 million.
• Institutional ownership remains high at 71.53%, with several major funds—including Cooper Creek Partners and Sound Shore Management—significantly increasing their positions.
• Analyst sentiment is cautious: Kyndryl has a consensus rating of “Reduce” and an average price target of $16.50. The company beat quarterly EPS estimates but reported a 3.3% year-over-year revenue decline.

Engineers Gate Manager LP lowered its stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 51.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 140,317 shares of the company's stock after selling 146,700 shares during the quarter. Engineers Gate Manager LP owned approximately 0.06% of Kyndryl worth $1,587,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC boosted its position in Kyndryl by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company's stock valued at $118,997,000 after purchasing an additional 63,846 shares during the last quarter. Sound Shore Management Inc. CT increased its position in shares of 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. Cooper Creek Partners Management LLC increased its position in shares of Kyndryl by 498.5% during the 1st quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company's stock worth $51,115,000 after purchasing an additional 3,245,013 shares during the last quarter. Royce & Associates LP raised its stake in shares of Kyndryl by 10.8% during the 4th quarter. Royce & Associates LP now owns 1,917,036 shares of the company's stock worth $50,916,000 after purchasing an additional 186,620 shares in the last quarter. Finally, Arnhold LLC raised its stake in shares of Kyndryl by 18.6% during the 4th quarter. Arnhold LLC now owns 1,198,424 shares of the company's stock worth $31,830,000 after purchasing an additional 187,753 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company's stock.

Analysts Set New Price Targets

KD has been the subject of several recent analyst reports. Zacks Research raised Kyndryl from a "strong sell" rating to a "hold" rating in a report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Kyndryl from $13.00 to $14.00 and gave the stock an "underweight" rating in a report on Monday, August 10th. Weiss Ratings lowered shares of Kyndryl from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, August 6th. BMO Capital Markets reiterated a "market perform" rating and issued a $16.00 price target on shares of Kyndryl in a research note on Thursday, August 6th. Finally, Susquehanna cut shares of Kyndryl from a "positive" rating to a "neutral" rating and cut their price target for the company from $16.00 to $13.00 in a research note on Thursday, May 21st. Seven research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $16.50.

Kyndryl Price Performance

NYSE:KD opened at $12.83 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.96. The stock's 50 day moving average price is $12.93 and its two-hundred day moving average price is $12.62. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 34.68 and a beta of 1.64. Kyndryl Holdings, Inc. has a 12-month low of $10.10 and a 12-month high of $32.30.

Kyndryl (NYSE:KD - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.04. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%.The company had revenue of $3.62 billion during the quarter, compared to analysts' expectations of $3.64 billion. During the same period last year, the firm posted $0.37 earnings per share. The business's revenue was down 3.3% on a year-over-year basis. On average, analysts anticipate that Kyndryl Holdings, Inc. will post 1.36 earnings per share for the current year.

Kyndryl Company Profile

Kyndryl Holdings, Inc NYSE: KD is an information technology services company that designs, builds, manages and modernizes mission-critical technology systems for businesses and public-sector organizations. Its services support hybrid cloud environments, enterprise data centers, networks, applications and digital workplaces.

The company provides consulting and implementation services, cloud infrastructure management, cybersecurity, network and edge services, mainframe and data-center operations, and data and artificial intelligence solutions.

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