Ethic Inc. Has $2.48 Million Position in KT Corporation $KT

Key Points

• Ethic Inc. reduced its stake in KT Corporation by 10.1% in Q1, now holding 140,056 shares valued at approximately $2.48 million.
• Other institutional investors, including Cerity Partners and Envestnet Asset Management, increased their holdings significantly during the same period, signaling potential confidence in KT Corporation.
• Analysts have downgraded KT's rating from "strong-buy" to "buy," reflecting a cautious outlook despite recent institutional interest.

Ethic Inc. trimmed its position in KT Corporation (NYSE:KT - Free Report) by 10.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,056 shares of the technology company's stock after selling 15,817 shares during the quarter. Ethic Inc.'s holdings in KT were worth $2,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its position in KT by 52.7% in the first quarter. Cerity Partners LLC now owns 66,781 shares of the technology company's stock worth $1,183,000 after purchasing an additional 23,045 shares during the period. GAMMA Investing LLC grew its position in shares of KT by 20.4% during the 1st quarter. GAMMA Investing LLC now owns 7,820 shares of the technology company's stock worth $138,000 after buying an additional 1,323 shares during the period. Envestnet Asset Management Inc. grew its position in shares of KT by 33.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 753,320 shares of the technology company's stock worth $13,341,000 after buying an additional 188,805 shares during the period. Ninety One UK Ltd lifted its holdings in shares of KT by 28.3% during the 1st quarter. Ninety One UK Ltd now owns 4,890,767 shares of the technology company's stock valued at $86,615,000 after purchasing an additional 1,079,860 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of KT by 3.0% during the 1st quarter. Rhumbline Advisers now owns 93,547 shares of the technology company's stock valued at $1,657,000 after purchasing an additional 2,731 shares in the last quarter. 18.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

KT Stock Up 0.9%

Shares of KT stock traded up $0.1880 on Friday, reaching $20.6680. 762,438 shares of the company were exchanged, compared to its average volume of 1,378,258. KT Corporation has a one year low of $14.53 and a one year high of $21.61. The company has a market capitalization of $10.66 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 0.15 and a beta of 0.69. 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 company has a 50-day moving average of $20.54 and a 200 day moving average of $19.03.

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 (EPS) for the quarter. KT had a return on equity of 3.47% and a net margin of 2.37%.The company had revenue of $4.71 billion for the quarter. On average, equities research analysts forecast that KT Corporation will post 0.73 earnings per share 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.