207,794 KT Corporation $KT Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its stake in KT Corporation (NYSE:KT - Free Report) by 59.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 142,532 shares of the technology company's stock after selling 207,794 shares during the period. Assenagon Asset Management S.A.'s holdings in KT were worth $2,701,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Niatross Investments Ltd boosted its stake in KT by 18.8% in the 2nd quarter. Niatross Investments Ltd now owns 11,006,064 shares of the technology company's stock valued at $190,185,000 after buying an additional 1,744,003 shares in the last quarter. Wellington Management Group LLP raised its stake in KT by 17.6% during the second quarter. Wellington Management Group LLP now owns 26,973,001 shares of the technology company's stock worth $466,093,000 after acquiring an additional 4,028,281 shares in the last quarter. NINE MASTS CAPITAL Ltd acquired a new position in KT during the second quarter worth $3,950,000. Bessemer Group Inc. lifted its holdings in shares of KT by 166.9% during the first quarter. Bessemer Group Inc. now owns 50,093 shares of the technology company's stock valued at $1,074,000 after acquiring an additional 31,327 shares during the period. Finally, Allworth Financial LP lifted its holdings in shares of KT by 17.6% during the second quarter. Allworth Financial LP now owns 4,867 shares of the technology company's stock valued at $84,000 after acquiring an additional 727 shares during the period. 18.86% of the stock is currently owned by institutional investors.

KT Trading Down 3.9%

Shares of KT opened at $18.04 on Thursday. The stock has a fifty day moving average price of $19.17 and a two-hundred day moving average price of $19.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.08 and a current ratio of 1.13. KT Corporation has a 52-week low of $17.13 and a 52-week high of $24.58. The company has a market cap of $8.70 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 4.58 and a beta of 0.56.

KT (NYSE:KT - Get Free Report) last announced its earnings results on Wednesday, September 2nd. The technology company reported $0.61 EPS for the quarter. KT had a return on equity of 6.45% and a net margin of 4.72%. The company had revenue of $4.45 billion for the quarter. Analysts predict that KT Corporation will post 2.06 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on KT shares. Zacks Research raised shares of KT from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of KT from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 16th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, KT has a consensus rating of "Hold" and an average target price of $23.08.

About KT

KT Corporation is a South Korean telecommunications and technology company headquartered in Seoul. Formerly known as Korea Telecom, the company traces its origins to 1981 and was fully privatized in 2002. Its American depositary shares trade on the New York Stock Exchange under the symbol KT.

KT provides fixed-line and wireless telecommunications services, including mobile voice and data, broadband internet, and internet protocol television. The company also offers digital services such as cloud computing, data center operations, information and communications technology solutions, and enterprise networking for businesses and public-sector organizations.

KT primarily serves customers in South Korea while supporting international business clients through its global telecommunications and technology networks.

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