Mutual of America Capital Management LLC Trims Stock Position in Kyndryl Holdings, Inc. (NYSE:KD)

Mutual of America Capital Management LLC cut its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 131,745 shares of the company’s stock after selling 5,358 shares during the period. Mutual of America Capital Management LLC owned about 0.06% of Kyndryl worth $3,466,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KD. Vanguard Group Inc. raised its holdings in shares of Kyndryl by 0.3% in the first quarter. Vanguard Group Inc. now owns 25,913,034 shares of the company’s stock valued at $563,868,000 after buying an additional 81,826 shares during the last quarter. Greenlight Capital Inc. raised its holdings in shares of Kyndryl by 13.7% in the fourth quarter. Greenlight Capital Inc. now owns 6,356,069 shares of the company’s stock valued at $132,079,000 after buying an additional 767,943 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Kyndryl by 32.3% in the second quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company’s stock valued at $72,768,000 after buying an additional 675,800 shares during the last quarter. Norges Bank purchased a new stake in shares of Kyndryl in the fourth quarter valued at about $54,283,000. Finally, Zimmer Partners LP raised its holdings in shares of Kyndryl by 1.3% in the first quarter. Zimmer Partners LP now owns 2,542,885 shares of the company’s stock valued at $55,333,000 after buying an additional 32,000 shares during the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Trading Down 1.1 %

Shares of Kyndryl stock opened at $23.61 on Tuesday. Kyndryl Holdings, Inc. has a 52-week low of $13.87 and a 52-week high of $28.60. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.82. The company’s 50-day simple moving average is $24.13 and its 200-day simple moving average is $24.00. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of -15.85, a price-to-earnings-growth ratio of 4.77 and a beta of 1.64.

Kyndryl (NYSE:KD) last issued its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. Kyndryl had a negative net margin of 1.21% and a negative return on equity of 3.28%. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.78 billion. As a group, equities research analysts anticipate that Kyndryl Holdings, Inc. will post 0.95 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Oppenheimer started coverage on shares of Kyndryl in a research note 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.com, the company currently has a consensus rating of “Buy” and a consensus price target of $29.40.

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.