Dynamic Technology Lab Private Ltd Acquires New Stake in KT Corporation $KT

Key Points

• Dynamic Technology Lab Private Ltd has purchased a new position in KT Corporation shares, acquiring 45,770 shares valued at approximately $811,000.
• Several hedge funds have recently increased their stakes in KT Corporation, with notable increases from Park Place Capital Corp and Brooklyn Investment Group. Collectively, institutional investors own 18.86% of the company’s stock.
• KT Corporation has been upgraded to a "strong-buy" rating by multiple brokerages, reflecting a positive outlook as it trades at $20.05 with a dividend yield of 4.3% after its recent quarterly dividend declaration.

Dynamic Technology Lab Private Ltd acquired a new stake in KT Corporation (NYSE:KT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 45,770 shares of the technology company's stock, valued at approximately $811,000.

A number of other hedge funds also recently added to or reduced their stakes in KT. Cerity Partners LLC lifted its holdings in shares of KT by 52.7% in the 1st quarter. Cerity Partners LLC now owns 66,781 shares of the technology company's stock valued at $1,183,000 after buying an additional 23,045 shares during the period. 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 acquiring an additional 1,323 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of KT by 33.4% during the first quarter. Envestnet Asset Management Inc. now owns 753,320 shares of the technology company's stock worth $13,341,000 after purchasing an additional 188,805 shares in the last quarter. Ninety One UK Ltd lifted its stake in shares of KT by 28.3% during the first quarter. Ninety One UK Ltd now owns 4,890,767 shares of the technology company's stock worth $86,615,000 after purchasing an additional 1,079,860 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in shares of KT by 29.6% during the first quarter. LPL Financial LLC now owns 105,345 shares of the technology company's stock worth $1,866,000 after purchasing an additional 24,056 shares in the last quarter. 18.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KT has been the subject of a number of analyst reports. Zacks Research raised KT from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 27th. Wall Street Zen raised KT from a "buy" rating to a "strong-buy" rating in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy".

KT Stock Up 1.5%

KT traded up $0.30 during trading on Thursday, reaching $20.04. 1,351,974 shares of the stock traded hands, compared to its average volume of 1,552,720. KT Corporation has a fifty-two week low of $14.77 and a fifty-two week high of $21.61. The stock's 50-day simple moving average is $20.53 and its two-hundred day simple moving average is $19.35. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.19 and a quick ratio of 1.04. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 0.14 and a beta of 0.72.

KT (NYSE:KT - Get Free Report) last posted its earnings results on Friday, September 5th. The technology company reported $1.01 earnings per share for the quarter. The company had revenue of $5.31 billion for the quarter. KT had a return on equity of 5.06% and a net margin of 3.35%. As a group, equities research analysts expect that KT Corporation will post 0.73 EPS for the current year.

KT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Wednesday, July 30th were given a $0.2164 dividend. This represents a $0.87 annualized dividend and a yield of 4.3%. The ex-dividend date was Wednesday, July 30th. KT's payout ratio is 77.17%.

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.