Solas Capital Management LLC Cuts Stock Position in Kyndryl Holdings, Inc. (NYSE:KD)

Solas Capital Management LLC trimmed its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 96.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,818 shares of the company’s stock after selling 699,460 shares during the period. Kyndryl accounts for 0.6% of Solas Capital Management LLC’s holdings, making the stock its 18th biggest position. Solas Capital Management LLC’s holdings in Kyndryl were worth $928,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Millstone Evans Group LLC acquired a new stake in Kyndryl during the 4th quarter worth $35,000. Picton Mahoney Asset Management purchased a new position in shares of Kyndryl in the fourth quarter worth about $38,000. EverSource Wealth Advisors LLC boosted its position in Kyndryl by 35.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $39,000 after acquiring an additional 297 shares during the last quarter. Sandy Spring Bank grew its stake in Kyndryl by 41.2% during the 4th quarter. Sandy Spring Bank now owns 1,514 shares of the company’s stock valued at $52,000 after acquiring an additional 442 shares in the last quarter. Finally, Lee Danner & Bass Inc. acquired a new stake in Kyndryl in the 4th quarter valued at about $60,000. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Stock Performance

Kyndryl stock opened at $32.02 on Friday. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of 58.22, a price-to-earnings-growth ratio of 10.84 and a beta of 1.91. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a 50 day simple moving average of $33.52 and a 200-day simple moving average of $33.22. Kyndryl Holdings, Inc. has a 1-year low of $19.24 and a 1-year high of $43.61.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on KD shares. Oppenheimer upped 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. Susquehanna cut their target price on Kyndryl from $46.00 to $43.00 and set a “positive” rating for the company in a research note on Wednesday.

Insider Buying and Selling

In related news, SVP Vineet Khurana sold 55,465 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $42.81, for a total transaction of $2,374,456.65. Following the completion of the transaction, the senior vice president now owns 43,877 shares of the company’s stock, valued at approximately $1,878,374.37. This trade represents a 55.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were 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 in the company, valued at approximately $5,688,594.94. The trade was a 17.15 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by company insiders.

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.