Poehling Capital Management INC. Acquires Shares of 88,056 Kyndryl Holdings, Inc. $KD

Poehling Capital Management INC. bought a new position in Kyndryl Holdings, Inc. (NYSE:KD) in the first quarter, Holdings Channel reports. The firm bought 88,056 shares of the company’s stock, valued at approximately $1,155,000.

Other hedge funds have also recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new position in shares of Kyndryl during the 4th quarter worth $29,000. Quarry LP bought a new stake in Kyndryl in the 4th quarter valued at about $31,000. NBT Bank N A NY raised its stake in Kyndryl by 3,220.0% in the 4th quarter. NBT Bank N A NY now owns 1,328 shares of the company’s stock valued at $35,000 after acquiring an additional 1,288 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Kyndryl by 4,475.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,464 shares of the company’s stock valued at $39,000 after purchasing an additional 1,432 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in Kyndryl during the fourth quarter valued at about $39,000. 71.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Kyndryl in a research report on Monday, April 20th. They issued a “market perform” rating and a $15.00 price target on the stock. Morgan Stanley cut their price objective on shares of Kyndryl from $28.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, March 24th. Wall Street Zen cut shares of Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Susquehanna lowered Kyndryl from a “positive” rating to a “neutral” rating and cut their price target for the stock from $16.00 to $13.00 in a report on Thursday, May 21st. Finally, Scotiabank reduced their price target on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, May 8th. Six equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $22.14.

Kyndryl Price Performance

Shares of NYSE:KD opened at $11.32 on Friday. The company has a 50 day moving average of $12.29 and a 200 day moving average of $16.64. The stock has a market cap of $2.50 billion, a P/E ratio of 13.32 and a beta of 1.66. Kyndryl Holdings, Inc. has a 12 month low of $10.10 and a 12 month high of $44.20. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.77.

Kyndryl (NYSE:KD) last posted its earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.25). Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts forecast that Kyndryl Holdings, Inc. will post 1.54 EPS for the current fiscal year.

Kyndryl Company 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.