Kyndryl Holdings, Inc. (NYSE:KD) Stake Cut by Manatuck Hill Partners LLC

Manatuck Hill Partners LLC cut its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 260,000 shares of the company's stock after selling 15,000 shares during the quarter. Kyndryl comprises approximately 3.7% of Manatuck Hill Partners LLC's investment portfolio, making the stock its 4th biggest position. Manatuck Hill Partners LLC owned 0.11% of Kyndryl worth $8,996,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC raised its holdings in shares of Kyndryl by 49.2% in the 3rd quarter. Barclays PLC now owns 255,958 shares of the company's stock valued at $5,882,000 after buying an additional 84,347 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Kyndryl during the third quarter worth about $171,000. Tidal Investments LLC lifted its position in shares of Kyndryl by 45.9% during the third quarter. Tidal Investments LLC now owns 102,270 shares of the company's stock worth $2,350,000 after purchasing an additional 32,173 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of Kyndryl by 11.5% in the third quarter. Synovus Financial Corp now owns 25,074 shares of the company's stock valued at $576,000 after purchasing an additional 2,581 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of Kyndryl by 15.1% in the third quarter. Franklin Resources Inc. now owns 90,068 shares of the company's stock valued at $2,237,000 after purchasing an additional 11,786 shares in the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on KD shares. Susquehanna reduced their target price 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. Oppenheimer increased their price objective on Kyndryl from $37.00 to $43.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th.

Kyndryl Stock Up 2.4 %

Shares of KD traded up $0.79 during midday trading on Friday, reaching $33.13. The stock had a trading volume of 1,339,278 shares, compared to its average volume of 2,051,285. The company has a market cap of $7.71 billion, a price-to-earnings ratio of 60.24, a PEG ratio of 10.84 and a beta of 1.91. The company's fifty day simple moving average is $32.71 and its two-hundred day simple moving average is $33.67. Kyndryl Holdings, Inc. has a 1-year low of $20.58 and a 1-year high of $43.61. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09.

Insider Buying and Selling at Kyndryl

In other news, SVP Vineet Khurana sold 55,465 shares of the company's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $42.81, for a total value of $2,374,456.65. Following the completion of the transaction, the senior vice president now owns 43,877 shares in the company, valued at approximately $1,878,374.37. This represents a 55.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Edward Sebold sold 27,500 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $42.83, for a total transaction of $1,177,825.00. Following the completion of the transaction, the general counsel now directly owns 132,818 shares in the company, valued at $5,688,594.94. This trade represents a 17.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

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.