American International Group Inc. Reduces Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

American International Group Inc. cut its stake in shares of Kyndryl Holdings, Inc. (NYSE:KDFree Report) by 3.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 309,933 shares of the company’s stock after selling 12,537 shares during the period. American International Group Inc.’s holdings in Kyndryl were worth $6,440,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pingora Partners LLC bought a new stake in Kyndryl in the 4th quarter worth about $50,000. Treasurer of the State of North Carolina increased its holdings in Kyndryl by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 100,713 shares of the company’s stock worth $2,093,000 after buying an additional 990 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Kyndryl by 9.4% in the 4th quarter. Allianz Asset Management GmbH now owns 692,157 shares of the company’s stock worth $14,383,000 after buying an additional 59,737 shares in the last quarter. United Services Automobile Association increased its holdings in Kyndryl by 10.2% in the 4th quarter. United Services Automobile Association now owns 16,466 shares of the company’s stock worth $342,000 after buying an additional 1,526 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. bought a new stake in Kyndryl in the 4th quarter worth about $940,000. 71.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 30,430 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $26.36, for a total transaction of $802,134.80. Following the completion of the sale, the senior vice president now directly owns 78,722 shares in the company, valued at approximately $2,075,111.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.69% of the company’s stock.

Kyndryl Price Performance

Kyndryl stock opened at $26.02 on Tuesday. The business has a 50-day simple moving average of $23.66 and a two-hundred day simple moving average of $21.72. Kyndryl Holdings, Inc. has a 52-week low of $11.92 and a 52-week high of $28.60. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.03 and a current ratio of 1.03.

Kyndryl (NYSE:KDGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating 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%. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.21) EPS. On average, sell-side analysts predict that Kyndryl Holdings, Inc. will post 0.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on KD shares. Susquehanna lifted their price objective on Kyndryl from $27.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, May 9th. Scotiabank lifted their price objective on Kyndryl from $28.00 to $30.00 and gave the stock a “sector outperform” rating in a report on Monday, May 13th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kyndryl currently has an average rating of “Buy” and an average target price of $28.50.

View Our Latest Analysis on KD

Kyndryl Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Kyndryl (NYSE:KD)

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