Cooper Creek Partners Management LLC grew its position in shares of Kyndryl Holdings, Inc. (NYSE:KD – Free Report) by 498.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,895,949 shares of the company’s stock after acquiring an additional 3,245,013 shares during the quarter. Kyndryl accounts for approximately 1.7% of Cooper Creek Partners Management LLC’s portfolio, making the stock its 21st largest holding. Cooper Creek Partners Management LLC owned about 1.73% of Kyndryl worth $51,115,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in shares of Kyndryl in the fourth quarter valued at about $29,000. Quarry LP purchased a new position in Kyndryl during the fourth quarter worth about $31,000. NBT Bank N A NY boosted its holdings in Kyndryl by 3,220.0% during the fourth quarter. NBT Bank N A NY now owns 1,328 shares of the company’s stock worth $35,000 after purchasing an additional 1,288 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in Kyndryl by 4,475.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,464 shares of the company’s stock worth $39,000 after purchasing an additional 1,432 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new stake in Kyndryl in the 4th quarter worth about $39,000. Institutional investors own 71.53% of the company’s stock.
Kyndryl Price Performance
KD opened at $12.03 on Friday. The firm has a market cap of $2.65 billion, a P/E ratio of 14.15 and a beta of 1.67. The firm has a 50-day moving average of $11.81 and a 200 day moving average of $14.57. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.88 and a current ratio of 0.88. Kyndryl Holdings, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $39.98.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. Zacks Research upgraded shares of Kyndryl from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Susquehanna downgraded Kyndryl from a “positive” rating to a “neutral” rating and cut their target price for the stock from $16.00 to $13.00 in a research note on Thursday, May 21st. BMO Capital Markets started coverage on Kyndryl in a report on Monday, April 20th. They issued a “market perform” rating and a $15.00 target price for the company. Wall Street Zen downgraded Kyndryl from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Scotiabank dropped their price target on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, May 8th. Seven research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Kyndryl currently has an average rating of “Reduce” and a consensus price target of $16.67.
Check Out Our Latest Stock Report on Kyndryl
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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