Lee Danner & Bass Inc. Makes New Investment in Kyndryl Holdings, Inc. (NYSE:KD)

Lee Danner & Bass Inc. purchased a new position in Kyndryl Holdings, Inc. (NYSE:KD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,746 shares of the company’s stock, valued at approximately $60,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new stake in shares of Kyndryl in the fourth quarter worth approximately $38,000. EverSource Wealth Advisors LLC raised its stake in shares of Kyndryl by 35.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $39,000 after purchasing an additional 297 shares during the last quarter. Sandy Spring Bank raised its stake in shares of Kyndryl by 41.2% in the fourth quarter. Sandy Spring Bank now owns 1,514 shares of the company’s stock worth $52,000 after purchasing an additional 442 shares during the last quarter. AlphaQuest LLC raised its stake in shares of Kyndryl by 147.3% in the fourth quarter. AlphaQuest LLC now owns 1,877 shares of the company’s stock worth $65,000 after purchasing an additional 1,118 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Kyndryl by 27.1% in the fourth quarter. UMB Bank n.a. now owns 1,916 shares of the company’s stock worth $66,000 after purchasing an additional 408 shares during the last quarter. Institutional investors own 71.53% of the company’s stock.

Kyndryl Stock Performance

Shares of KD opened at $34.57 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 62.85, a PEG ratio of 10.84 and a beta of 1.85. The stock has a 50 day moving average of $38.10 and a 200 day moving average of $31.98. Kyndryl Holdings, Inc. has a 12 month low of $19.24 and a 12 month high of $43.61.

Insider Activity at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 55,465 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $42.81, for a total value of $2,374,456.65. Following the completion of the sale, the senior vice president now directly owns 43,877 shares of the company’s stock, valued at $1,878,374.37. This trade represents a 55.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Edward Sebold sold 27,500 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $42.83, for a total value of $1,177,825.00. Following the completion of the sale, the general counsel now directly owns 132,818 shares of the company’s stock, valued at $5,688,594.94. This represents a 17.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

KD has been the subject of several analyst reports. Susquehanna increased their price objective on Kyndryl from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Wednesday, February 5th. Oppenheimer increased their price target on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, February 4th.

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.