Voleon Capital Management LP Sells 71,269 Shares of Kyndryl Holdings, Inc. $KD

Key Points

• Voleon Capital Management LP has significantly reduced its stake in Kyndryl Holdings, Inc. by 56.8% during the first quarter, owning 54,289 shares after selling 71,269 shares.
• Despite Voleon's reduction, other institutional investors, including Raymond James and HSBC Holdings, have increased their positions in Kyndryl during the same period.
• Wall Street analysts are optimistic about Kyndryl's future with a consensus rating of "Buy" and a price target of $46.00, following a recent earnings report that exceeded expectations.

Voleon Capital Management LP trimmed its position in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 56.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,289 shares of the company's stock after selling 71,269 shares during the quarter. Voleon Capital Management LP's holdings in Kyndryl were worth $1,705,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. GMT Capital Corp boosted its stake in shares of Kyndryl by 24.2% during the first quarter. GMT Capital Corp now owns 3,691,860 shares of the company's stock valued at $115,924,000 after purchasing an additional 718,300 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Kyndryl by 95.9% during the fourth quarter. Deutsche Bank AG now owns 2,147,009 shares of the company's stock valued at $74,287,000 after purchasing an additional 1,050,856 shares in the last quarter. Cortland Associates Inc. MO boosted its stake in shares of Kyndryl by 0.4% during the first quarter. Cortland Associates Inc. MO now owns 2,131,738 shares of the company's stock valued at $66,937,000 after purchasing an additional 8,017 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Kyndryl by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 1,883,002 shares of the company's stock valued at $59,126,000 after purchasing an additional 31,644 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Kyndryl by 5.4% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,265,000 shares of the company's stock valued at $39,721,000 after purchasing an additional 65,000 shares in the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Kyndryl Trading Down 2.4%

KD traded down $0.78 during trading on Friday, hitting $31.96. The company's stock had a trading volume of 1,888,681 shares, compared to its average volume of 2,175,288. Kyndryl Holdings, Inc. has a twelve month low of $22.26 and a twelve month 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 stock's fifty day moving average price is $34.60 and its 200-day moving average price is $35.49. The firm has a market capitalization of $7.39 billion, a P/E ratio of 26.41, a PEG ratio of 3.49 and a beta of 1.89.

Kyndryl (NYSE:KD - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. Kyndryl had a return on equity of 19.88% and a net margin of 1.97%.The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the firm earned $0.13 earnings per share. The company's revenue was up .1% compared to the same quarter last year. Kyndryl has set its FY 2026 guidance at EPS. Analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KD. Wall Street Zen lowered Kyndryl from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Oppenheimer upped their target price on Kyndryl from $47.00 to $55.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Kyndryl has a consensus rating of "Buy" and a consensus price target of $46.00.

About Kyndryl

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.