Kopernik Global Investors LLC Sells 1,603,864 Shares of KT Corporation $KT

Key Points

• Kopernik Global Investors LLC sold 1,603,864 shares of KT Corporation, reducing its stake by 20.3%, and now holds 6,311,479 shares worth approximately $111.8 million.
• Other hedge funds, such as Cerity Partners LLC and GAMMA Investing LLC, have increased their stakes in KT by significant margins, indicating ongoing interest from institutional investors.
• KT Corporation reported earnings of $0.75 EPS and a revenue of $4.71 billion in its most recent quarterly earnings release, with an average analyst rating of "Buy."

Kopernik Global Investors LLC decreased its stake in KT Corporation (NYSE:KT - Free Report) by 20.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,311,479 shares of the technology company's stock after selling 1,603,864 shares during the quarter. KT accounts for about 11.6% of Kopernik Global Investors LLC's portfolio, making the stock its 2nd largest position. Kopernik Global Investors LLC owned approximately 1.22% of KT worth $111,776,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its stake in KT by 52.7% in the first 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 increased its holdings in shares of KT by 20.4% in the first quarter. GAMMA Investing LLC now owns 7,820 shares of the technology company's stock worth $138,000 after acquiring an additional 1,323 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of KT by 33.4% in the first quarter. Envestnet Asset Management Inc. now owns 753,320 shares of the technology company's stock worth $13,341,000 after acquiring an additional 188,805 shares in the last quarter. Ninety One UK Ltd increased its holdings in shares of KT by 28.3% in the first quarter. Ninety One UK Ltd now owns 4,890,767 shares of the technology company's stock worth $86,615,000 after acquiring an additional 1,079,860 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of KT by 3.0% in the first quarter. Rhumbline Advisers now owns 93,547 shares of the technology company's stock worth $1,657,000 after acquiring an additional 2,731 shares in the last quarter. Institutional investors and hedge funds own 18.86% of the company's stock.

KT Stock Down 0.2%

NYSE:KT opened at $20.7540 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.04 and a current ratio of 1.10. The company has a market cap of $10.70 billion, a PE ratio of 22.56, a PEG ratio of 0.15 and a beta of 0.69. KT Corporation has a 52-week low of $14.48 and a 52-week high of $21.61. The stock has a 50-day simple moving average of $20.51 and a 200 day simple moving average of $18.99.

KT (NYSE:KT - Get Free Report) last posted its quarterly earnings data on Tuesday, June 17th. The technology company reported $0.75 earnings per share (EPS) for the quarter. The business 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%. On average, sell-side analysts expect that KT Corporation will post 0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded KT from a "strong-buy" rating to a "buy" rating in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy".

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.

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