Kyndryl Holdings, Inc. (NYSE:KD) is Penn Capital Management Company LLC's 2nd Largest Position

Penn Capital Management Company LLC trimmed its stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 534,550 shares of the company's stock after selling 66,274 shares during the quarter. Kyndryl makes up 1.8% of Penn Capital Management Company LLC's holdings, making the stock its 2nd biggest position. Penn Capital Management Company LLC owned approximately 0.23% of Kyndryl worth $18,495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Millstone Evans Group LLC purchased a new stake in Kyndryl during the fourth quarter valued at about $35,000. Picton Mahoney Asset Management bought a new position in Kyndryl in the 4th quarter worth approximately $38,000. EverSource Wealth Advisors LLC grew its stake in Kyndryl by 35.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company's stock valued at $39,000 after buying an additional 297 shares in the last quarter. Sandy Spring Bank raised its holdings in Kyndryl by 41.2% during the 4th quarter. Sandy Spring Bank now owns 1,514 shares of the company's stock valued at $52,000 after acquiring an additional 442 shares during the period. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Kyndryl during the fourth quarter worth $60,000. 71.53% of the stock is owned by institutional investors.

Insider Activity

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

Kyndryl Price Performance

KD traded up $0.55 on Tuesday, reaching $32.59. The company had a trading volume of 388,138 shares, compared to its average volume of 2,048,351. Kyndryl Holdings, Inc. has a 52-week low of $19.57 and a 52-week high of $43.61. The company has a market cap of $7.58 billion, a price-to-earnings ratio of 59.14, a P/E/G ratio of 10.84 and a beta of 1.91. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09. The business has a 50 day simple moving average of $33.33 and a 200 day simple moving average of $33.40.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KD. Oppenheimer increased their price objective on Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a report on Tuesday, February 4th. Susquehanna reduced their price objective on shares of Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd.

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.