Allspring Global Investments Holdings LLC Sells 653,945 Shares of KT Corporation (NYSE:KT)

Allspring Global Investments Holdings LLC trimmed its position in KT Corporation (NYSE:KT - Free Report) by 8.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,013,754 shares of the technology company's stock after selling 653,945 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.36% of KT worth $124,073,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Park Place Capital Corp increased its stake in shares of KT by 66.7% in the 1st quarter. Park Place Capital Corp now owns 2,047 shares of the technology company's stock valued at $36,000 after purchasing an additional 819 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in KT by 174.8% in 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 in the last quarter. Bruce G. Allen Investments LLC grew its position in KT by 143.2% in the first quarter. Bruce G. Allen Investments LLC now owns 2,371 shares of the technology company's stock valued at $42,000 after acquiring an additional 1,396 shares during the last quarter. Principal Securities Inc. raised its stake in KT by 70.6% during the fourth quarter. Principal Securities Inc. now owns 3,730 shares of the technology company's stock worth $58,000 after acquiring an additional 1,544 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of KT by 58.2% in the fourth quarter. Global Retirement Partners LLC now owns 7,253 shares of the technology company's stock worth $113,000 after acquiring an additional 2,667 shares during the last quarter. 18.86% of the stock is currently owned by institutional investors and hedge funds.

KT Stock Up 2.6%

Shares of KT traded up $0.53 on Tuesday, reaching $21.31. The company's stock had a trading volume of 1,608,619 shares, compared to its average volume of 1,273,663. KT Corporation has a twelve month low of $13.11 and a twelve month high of $21.55. The stock has a market capitalization of $10.99 billion, a PE ratio of 23.16, a PEG ratio of 0.16 and a beta of 0.66. 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 fifty day moving average of $19.49 and a 200-day moving average of $17.93.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on KT. Wall Street Zen downgraded shares of KT from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, May 20th. The Goldman Sachs Group raised shares of KT from a "neutral" rating to a "buy" rating in a research note on Monday, March 3rd.

KT Profile

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.