Waterfront Wealth Inc. Makes New Investment in Kyndryl Holdings, Inc. $KD

Key Points

• Waterfront Wealth Inc. opened a new position in Kyndryl Holdings during the first quarter, buying 208,863 shares worth about $2.74 million. The stake represented roughly 0.09% of the company.
• Institutional ownership remains high, with 71.53% of Kyndryl stock held by hedge funds and other institutional investors. Several other funds also recently initiated or increased positions.
• Kyndryl’s latest quarterly results showed earnings missed estimates even though revenue came in slightly ahead of expectations. Analysts overall remain cautious, with a consensus rating of “Reduce” and a consensus price target of $16.67.

Waterfront Wealth Inc. purchased a new position in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 208,863 shares of the company's stock, valued at approximately $2,740,000. Waterfront Wealth Inc. owned about 0.09% of Kyndryl at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of KD. Los Angeles Capital Management LLC purchased a new position in Kyndryl in the 4th quarter worth about $29,000. Quarry LP bought a new stake in shares of Kyndryl in the fourth quarter worth approximately $31,000. NBT Bank N A NY grew its stake in shares of Kyndryl by 3,220.0% in the fourth quarter. NBT Bank N A NY now owns 1,328 shares of the company's stock worth $35,000 after acquiring an additional 1,288 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Kyndryl by 4,475.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,464 shares of the company's stock valued at $39,000 after purchasing an additional 1,432 shares during the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in Kyndryl during the fourth quarter valued at approximately $39,000. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Trading Up 0.9%

Shares of Kyndryl stock opened at $12.07 on Friday. The company's fifty day simple moving average is $11.93 and its 200-day simple moving average is $15.63. The stock has a market capitalization of $2.66 billion, a PE ratio of 14.21 and a beta of 1.67. Kyndryl Holdings, Inc. has a 1-year low of $10.10 and a 1-year high of $43.00. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.88 and a quick ratio of 0.88.

Kyndryl (NYSE:KD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.25). Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The company had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.74 billion. During the same quarter last year, the company earned $0.52 earnings per share. The company's revenue for the quarter was down .8% on a year-over-year basis. As a group, equities analysts anticipate that Kyndryl Holdings, Inc. will post 1.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

KD has been the subject of a number of research analyst reports. Scotiabank cut their target price on shares of Kyndryl from $16.50 to $15.00 and set a "sector perform" rating for the company in a research report on Friday, May 8th. BMO Capital Markets began coverage on Kyndryl in a report on Monday, April 20th. They issued a "market perform" rating and a $15.00 price objective for the company. Wall Street Zen cut Kyndryl from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Morgan Stanley reduced their price objective on Kyndryl from $28.00 to $13.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 24th. Finally, Susquehanna downgraded Kyndryl from a "positive" rating to a "neutral" rating and lowered their target price for the company from $16.00 to $13.00 in a report on Thursday, May 21st. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Kyndryl currently has a consensus rating of "Reduce" and a consensus price target of $16.67.

Kyndryl 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.

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