Allianz Asset Management GmbH Buys New Shares in KT Corporation (NYSE:KT)

Key Points

• Allianz Asset Management GmbH has acquired 322,722 shares of KT Corporation, valued at approximately $5.7 million, representing about 0.06% of the company's stock as of their latest SEC filing.
• Several hedge funds, including Park Place Capital Corp and Farther Finance Advisors LLC, significantly boosted their stakes in KT during the first quarter, indicating increased institutional interest.
• KT Corporation's stock was recently downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, reflecting a shift in analyst sentiment towards the company.

Allianz Asset Management GmbH purchased a new stake in shares of KT Corporation (NYSE:KT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 322,722 shares of the technology company's stock, valued at approximately $5,715,000. Allianz Asset Management GmbH owned approximately 0.06% of KT at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Park Place Capital Corp grew its position in KT by 66.7% during the first quarter. Park Place Capital Corp now owns 2,047 shares of the technology company's stock valued at $36,000 after buying an additional 819 shares during the period. Farther Finance Advisors LLC grew its position in KT by 174.8% during the first quarter. Farther Finance Advisors LLC now owns 2,275 shares of the technology company's stock valued at $40,000 after buying an additional 1,447 shares during the period. Bruce G. Allen Investments LLC grew its position in KT by 143.2% during the first quarter. Bruce G. Allen Investments LLC now owns 2,371 shares of the technology company's stock valued at $42,000 after buying an additional 1,396 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in KT during the first quarter valued at $77,000. Finally, GAMMA Investing LLC grew its position in KT by 20.4% during the first quarter. GAMMA Investing LLC now owns 7,820 shares of the technology company's stock valued at $138,000 after buying an additional 1,323 shares during the period. Institutional investors and hedge funds own 18.86% of the company's stock.

KT Stock Down 3.1%

Shares of NYSE KT traded down $0.63 during mid-day trading on Monday, reaching $20.02. The company had a trading volume of 1,119,158 shares, compared to its average volume of 968,656. The company has a current ratio of 1.10, a quick ratio of 1.04 and a debt-to-equity ratio of 0.41. The firm has a 50 day simple moving average of $20.16 and a two-hundred day simple moving average of $18.61. The stock has a market cap of $10.32 billion, a P/E ratio of 21.76, a PEG ratio of 0.16 and a beta of 0.68. KT Corporation has a 52-week low of $13.18 and a 52-week high of $21.61.

KT (NYSE:KT - Get Free Report) last issued its quarterly earnings data on Tuesday, June 17th. The technology company reported $0.75 earnings per share (EPS) for the quarter. KT had a net margin of 2.37% and a return on equity of 3.47%. The company had revenue of $4.71 billion for the quarter. Sell-side analysts predict that KT Corporation will post 0.73 earnings per share for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of KT from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, May 20th.

About KT

KT Corporation provides integrated telecommunications and platform services in Korea and internationally. The company offers mobile voice and data telecommunications services based on 5G, 4G LTE and 3G W-CDMA technology; fixed-line telephone services, including local, domestic long-distance, international long-distance, and voice over Internet protocol telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services; and data communication services, such as fixed-line and leased line services, as well as broadband Internet connection services.