Townsquare Capital LLC Acquires Shares of 149,586 Kyndryl Holdings, Inc. (NYSE:KD)

Key Points

• Townsquare Capital LLC has invested approximately $4.70 million in Kyndryl Holdings, acquiring 149,586 shares, which represents a 0.06% ownership stake in the company.
• A significant portion of Kyndryl's stock, about 71.53%, is held by institutional investors, indicating a strong backing from hedge funds and other financial firms.
• Recent earnings reports show Kyndryl beat analysts' EPS estimates with $0.37, although their revenue of $3.74 billion fell short of expectations, highlighting mixed financial performance.

Townsquare Capital LLC acquired a new stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 149,586 shares of the company's stock, valued at approximately $4,697,000. Townsquare Capital LLC owned 0.06% of Kyndryl as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of KD. GAMMA Investing LLC boosted its holdings in Kyndryl by 44.1% during the first quarter. GAMMA Investing LLC now owns 4,322 shares of the company's stock worth $136,000 after buying an additional 1,323 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Kyndryl by 121.8% during the first quarter. Janney Montgomery Scott LLC now owns 20,750 shares of the company's stock worth $652,000 after buying an additional 11,395 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Kyndryl by 0.5% in the first quarter. Principal Financial Group Inc. now owns 535,085 shares of the company's stock valued at $16,802,000 after purchasing an additional 2,807 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Kyndryl by 35.5% in the first quarter. Fifth Third Bancorp now owns 3,114 shares of the company's stock valued at $98,000 after purchasing an additional 815 shares in the last quarter. Finally, Private Trust Co. NA lifted its holdings in shares of Kyndryl by 107.9% in the first quarter. Private Trust Co. NA now owns 1,021 shares of the company's stock valued at $32,000 after purchasing an additional 530 shares in the last quarter. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KD. Wall Street Zen downgraded shares of Kyndryl from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Susquehanna reduced their price target on shares of Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Finally, Oppenheimer upped their price target on shares of Kyndryl from $47.00 to $55.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th.

Insider Activity

In other news, SVP Vineet Khurana sold 26,451 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $39.14, for a total value of $1,035,292.14. Following the completion of the sale, the senior vice president owned 73,278 shares of the company's stock, valued at $2,868,100.92. This represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is owned by insiders.

Kyndryl Trading Down 1.4%

Shares of NYSE:KD traded down $0.42 during trading on Thursday, reaching $30.13. The stock had a trading volume of 3,579,348 shares, compared to its average volume of 3,310,262. Kyndryl Holdings, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $44.20. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.24. The business has a fifty day moving average price of $38.52 and a 200-day moving average price of $36.76. The stock has a market cap of $6.96 billion, a P/E ratio of 24.90, a PEG ratio of 3.34 and a beta of 1.91.

Kyndryl (NYSE:KD - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. Kyndryl had a net margin of 1.97% and a return on equity of 19.88%. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the prior year, the business earned $0.13 earnings per share. The business's quarterly revenue was up .1% compared to the same quarter last year. As a group, analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

Kyndryl Company 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.