American International Group Inc. Has $6.63 Million Stake in Kyndryl Holdings, Inc. (NYSE:KD)

American International Group Inc. decreased its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 304,565 shares of the company’s stock after selling 5,368 shares during the quarter. American International Group Inc. owned 0.13% of Kyndryl worth $6,627,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in KD. Raymond James Financial Services Advisors Inc. lifted its stake in Kyndryl by 6.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 96,775 shares of the company’s stock valued at $2,011,000 after buying an additional 5,489 shares during the period. Pacer Advisors Inc. raised its position in shares of Kyndryl by 79.9% during the fourth quarter. Pacer Advisors Inc. now owns 34,489 shares of the company’s stock worth $717,000 after purchasing an additional 15,318 shares during the period. Hennessy Advisors Inc. acquired a new stake in shares of Kyndryl during the fourth quarter worth about $28,992,000. International Assets Investment Management LLC acquired a new stake in shares of Kyndryl during the fourth quarter worth about $1,664,000. Finally, New York State Teachers Retirement System raised its position in shares of Kyndryl by 0.9% during the fourth quarter. New York State Teachers Retirement System now owns 208,389 shares of the company’s stock worth $4,330,000 after purchasing an additional 1,900 shares during the period. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Price Performance

NYSE:KD opened at $26.63 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.77. Kyndryl Holdings, Inc. has a 52-week low of $11.92 and a 52-week high of $28.60. The stock has a 50-day simple moving average of $26.50 and a 200 day simple moving average of $23.27.

Kyndryl (NYSE:KD) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.11. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.76 billion. Kyndryl had a negative return on equity of 4.11% and a negative net margin of 2.12%. Kyndryl’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period last year, the company earned ($0.21) earnings per share. As a group, sell-side analysts forecast that Kyndryl Holdings, Inc. will post 1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KD. Susquehanna raised their price target on Kyndryl from $27.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, May 9th. Scotiabank raised their price target on Kyndryl from $28.00 to $30.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 13th. Finally, Oppenheimer began coverage on Kyndryl in a research report on Thursday, June 27th. They set an “outperform” rating and a $33.00 price target on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kyndryl presently has a consensus rating of “Buy” and a consensus target price of $29.40.

Insider Buying and Selling at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 30,430 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $26.36, for a total value of $802,134.80. Following the completion of the transaction, the senior vice president now directly owns 78,722 shares in the company, valued at $2,075,111.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.04% of the company’s stock.

Kyndryl Company 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.