Should You Hold Kyndryl (KD) for the Long-Term?

Tourlite Capital Management, an investment management firm, released its third quarter 2023 investor letter, a copy of which can be downloaded here. Tourlite Fund, LP Founder Class returned 7.8% for Q3 2023 and 7.6% year to date outperforming the S&P 500 and Russell 2000. Since its inception in April 2022, the fund returned 13% compared to (2.8%), and (11.7%) returns for the indexes. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Tourlite Capital highlighted stocks like Kyndryl Holdings, Inc. (NYSE:KD) in the third quarter 2023 investor letter. Headquartered in New York, New York, Kyndryl Holdings, Inc. (NYSE:KD) is a technology services company and IT infrastructure services provider. On December 13, 2023, Kyndryl Holdings, Inc. (NYSE:KD) stock closed at $18.30 per share. One-month return of Kyndryl Holdings, Inc. (NYSE:KD) was 0.94%, and its shares gained 63.10% of their value over the last 52 weeks. Kyndryl Holdings, Inc. (NYSE:KD) has a market capitalization of $4.199 billion.

Tourlite Capital made the following comment about Kyndryl Holdings, Inc. (NYSE:KD) in its Q3 2023 investor letter:

“Kyndryl Holdings, Inc.’s (NYSE:KD) most recent quarterly earnings revealed several positive indicators. Gross margins showed an expansion of over 200 basis points (bps), and EBIT margins improved by nearly 200 bps compared to the previous quarter. Post-signing gross margins were in the mid-20s, and pre-tax margins were in the high single digits (HSD). As Kyndryl continues to work through its legacy backlog, we anticipate that both gross and pre-tax margins will align with the higher margins seen in recent signings.”

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Kyndryl Holdings, Inc. (NYSE:KD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held Kyndryl Holdings, Inc. (NYSE:KD) at the end of third quarter which was 26 in the previous quarter.

We discussed Kyndryl Holdings, Inc. (NYSE:KD) in another article and shared the list of stocks under $25 to buy. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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 Disclosure: None. This article is originally published at Insider Monkey.