Amalgamated Bank Sells 3,553 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Amalgamated Bank lowered its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 3.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 106,404 shares of the company’s stock after selling 3,553 shares during the quarter. Amalgamated Bank’s holdings in Kyndryl were worth $3,341,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Kyndryl during the 1st quarter worth about $27,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Kyndryl in the 4th quarter valued at about $30,000. True Wealth Design LLC boosted its stake in shares of Kyndryl by 150.6% in the 4th quarter. True Wealth Design LLC now owns 872 shares of the company’s stock valued at $30,000 after purchasing an additional 524 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Kyndryl by 1,143.0% in the 1st quarter. Versant Capital Management Inc now owns 1,069 shares of the company’s stock valued at $34,000 after purchasing an additional 983 shares during the last quarter. Finally, Millstone Evans Group LLC bought a new position in shares of Kyndryl in the 4th quarter valued at about $35,000. Institutional investors own 71.53% of the company’s stock.

Kyndryl Stock Up 2.6%

Kyndryl stock opened at $43.48 on Friday. The company’s 50 day simple moving average is $38.98 and its 200 day simple moving average is $36.74. Kyndryl Holdings, Inc. has a fifty-two week low of $21.34 and a fifty-two week high of $43.74. The firm has a market capitalization of $10.06 billion, a price-to-earnings ratio of 42.21, a PEG ratio of 0.98 and a beta of 1.93. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.07 and a quick ratio of 1.07.

Kyndryl (NYSE:KD) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. Kyndryl had a net margin of 1.67% and a return on equity of 15.97%. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the firm earned ($0.01) EPS. Kyndryl’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Vineet Khurana sold 26,451 shares of Kyndryl stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $39.14, for a total transaction of $1,035,292.14. Following the transaction, the senior vice president owned 73,278 shares of the company’s stock, valued at $2,868,100.92. This trade represents a 26.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on KD shares. Oppenheimer raised their target price on shares of Kyndryl from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, May 13th. Wall Street Zen raised shares of Kyndryl from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 21st. Finally, 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 research note on Wednesday, April 23rd.

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.