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 lowered its position in shares of KT Corporation (NYSE:KT - Free Report) by 20.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,311,479 shares of the technology company's stock after selling 1,603,864 shares during the period. KT makes up approximately 11.6% of Kopernik Global Investors LLC's portfolio, making the stock its 2nd largest position. Kopernik Global Investors LLC owned about 1.22% of KT worth $111,776,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in KT. Wellington Management Group LLP lifted its holdings in shares of KT by 2.0% in the 1st quarter. Wellington Management Group LLP now owns 10,115,990 shares of the technology company's stock worth $179,154,000 after acquiring an additional 198,909 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of KT by 1,901.0% in the 1st quarter. Brooklyn Investment Group now owns 4,122 shares of the technology company's stock worth $73,000 after acquiring an additional 3,916 shares during the last quarter. Boston Partners lifted its holdings in shares of KT by 193.2% in the 1st quarter. Boston Partners now owns 3,658,852 shares of the technology company's stock worth $64,806,000 after acquiring an additional 2,410,971 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of KT by 185.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,353 shares of the technology company's stock worth $77,000 after acquiring an additional 2,828 shares during the last quarter. Finally, Atlas Capital Advisors Inc. lifted its holdings in shares of KT by 4.8% in the 1st quarter. Atlas Capital Advisors Inc. now owns 20,273 shares of the technology company's stock worth $359,000 after acquiring an additional 935 shares during the last quarter. Institutional investors and hedge funds own 18.86% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of KT from a "buy" rating to a "strong-buy" rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy".

KT Stock Up 2.0%

Shares of KT stock traded up $0.4150 during trading on Monday, reaching $21.1050. The company's stock had a trading volume of 431,438 shares, compared to its average volume of 1,375,558. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 1.04. The company has a market capitalization of $10.88 billion, a price-to-earnings ratio of 22.94, a P/E/G ratio of 0.15 and a beta of 0.69. The stock's 50-day moving average price is $20.56 and its 200 day moving average price is $19.08. KT Corporation has a 1-year low of $14.53 and a 1-year high of $21.61.

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

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.