Wedbush Securities Inc. acquired a new stake in Kyndryl (NYSE:KD – Get Rating) during the fourth quarter, Holdings Channel reports. The fund acquired 13,552 shares of the company’s stock, valued at approximately $245,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cacti Asset Management LLC acquired a new position in Kyndryl during the fourth quarter worth $60,000. FNY Investment Advisers LLC purchased a new stake in shares of Kyndryl during the fourth quarter worth $144,000. DNB Asset Management AS purchased a new stake in shares of Kyndryl during the fourth quarter worth $397,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Kyndryl during the fourth quarter worth $469,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.
Separately, Evercore ISI began coverage on Kyndryl in a research report on Sunday, November 14th. They set an “inline” rating and a $22.00 price objective on the stock.
Kyndryl stock opened at $11.53 on Monday. Kyndryl has a twelve month low of $10.92 and a twelve month high of $52.00. The stock’s fifty day moving average is $15.78. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.27 and a current ratio of 1.27.
Kyndryl (NYSE:KD – Get Rating) last posted its earnings results on Monday, February 28th. The company reported ($3.30) EPS for the quarter. The company had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.54 billion. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. Analysts predict that Kyndryl will post -0.05 EPS for the current year.
About Kyndryl (Get Rating)
Kyndryl Holdings Inc operates as a holding company, through its subsidiaries, provides applications, data, AI, cloud, core enterprise, digital workplace, security and other related services. Kyndryl Holdings Inc is based in New York, United States.
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