Kovitz Investment Group Partners LLC Has $838,000 Stake in KT Corporation $KT

Key Points

• Kovitz Investment Group Partners LLC reduced its stake in KT Corporation by 21.4% to $838,000, owning 47,307 shares after selling 12,906 shares in the first quarter.
• Other hedge funds have increased their holdings significantly, with Boston Partners raising its position by 193.2%, owning over 3.6 million shares valued at $64.8 million.
• Analysts have downgraded KT's rating from "strong-buy" to "buy," with the stock currently rated as an average of "Buy" among analysts.

Kovitz Investment Group Partners LLC trimmed its holdings in KT Corporation (NYSE:KT - Free Report) by 21.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,307 shares of the technology company's stock after selling 12,906 shares during the period. Kovitz Investment Group Partners LLC's holdings in KT were worth $838,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in KT. Boston Partners lifted its position in shares of KT by 193.2% in the first quarter. Boston Partners now owns 3,658,852 shares of the technology company's stock valued at $64,806,000 after buying an additional 2,410,971 shares during the last quarter. Ninety One UK Ltd lifted its position 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 valued at $86,615,000 after buying an additional 1,079,860 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of KT by 18.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 5,547,691 shares of the technology company's stock valued at $98,250,000 after buying an additional 875,840 shares during the last quarter. Beck Bode LLC acquired a new stake in shares of KT in the fourth quarter valued at approximately $12,974,000. Finally, Tidal Investments LLC acquired a new stake in shares of KT in the fourth quarter valued at approximately $6,624,000. 18.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

KT Stock Performance

NYSE:KT opened at $20.7540 on Wednesday. The stock has a market cap of $10.70 billion, a P/E ratio of 22.56, a PEG ratio of 0.15 and a beta of 0.69. The stock has a 50 day simple moving average of $20.51 and a 200 day simple moving average of $18.99. The company has a current ratio of 1.10, a quick ratio of 1.04 and a debt-to-equity ratio of 0.41. KT Corporation has a 1-year low of $14.48 and a 1-year high of $21.61.

KT (NYSE:KT - Get Free Report) last released its quarterly earnings results on Tuesday, June 17th. The technology company reported $0.75 earnings per share 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%. Research analysts anticipate that KT Corporation will post 0.73 earnings per share for the current year.

KT Company 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.

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