KT Corporation $KT Stock: Allspring Global Investments Holdings LLC Raises Stake

Key Points

• Allspring Global Investments increased its KT stake by 11.1% in the third quarter, adding 594,335 shares to hold about 5.93 million shares valued at $110.9 million. Several other institutional investors also raised their holdings.
• KT reported quarterly earnings of $0.61 per share on $4.45 billion in revenue. The stock opened at $19.17, within its 52-week range of $16.59 to $24.58.
• Analyst sentiment is broadly neutral: KT has an average Hold rating and a consensus price target of $23.08, with one Buy rating and two Hold ratings.

Allspring Global Investments Holdings LLC increased its stake in KT Corporation (NYSE:KT - Free Report) by 11.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,926,227 shares of the technology company's stock after purchasing an additional 594,335 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.23% of KT worth $110,880,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in KT. Wellington Management Group LLP increased its position in KT by 17.6% during the second quarter. Wellington Management Group LLP now owns 26,973,001 shares of the technology company's stock valued at $466,093,000 after acquiring an additional 4,028,281 shares during the last quarter. Niatross Investments Ltd boosted its position in KT by 18.8% in the second quarter. Niatross Investments Ltd now owns 11,006,064 shares of the technology company's stock worth $190,185,000 after purchasing an additional 1,744,003 shares during the last quarter. Pzena Investment Management LLC boosted its position in KT by 4.4% in the third quarter. Pzena Investment Management LLC now owns 7,605,620 shares of the technology company's stock worth $144,126,000 after purchasing an additional 319,120 shares during the last quarter. NINE MASTS CAPITAL Ltd purchased a new position in KT in the second quarter worth about $3,950,000. Finally, Mondrian Investment Partners LTD grew its stake in shares of KT by 7.3% during the 3rd quarter. Mondrian Investment Partners LTD now owns 2,620,126 shares of the technology company's stock valued at $49,651,000 after purchasing an additional 177,892 shares during the period. Institutional investors own 18.86% of the company's stock.

KT Stock Performance

NYSE KT opened at $19.17 on Tuesday. The business's 50 day moving average price is $18.79 and its 200-day moving average price is $19.84. KT Corporation has a fifty-two week low of $16.59 and a fifty-two week high of $24.58. The company has a market cap of $9.24 billion, a P/E ratio of 9.92, a P/E/G ratio of 4.50 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.08 and a current ratio of 1.13.

KT (NYSE:KT - Get Free Report) last released its quarterly earnings results on Wednesday, September 2nd. The technology company reported $0.61 EPS for the quarter. The business had revenue of $4.45 billion during the quarter. KT had a net margin of 4.72% and a return on equity of 6.45%. Sell-side analysts predict that KT Corporation will post 2.06 earnings per share for the current year.

Analysts Set New Price Targets

KT has been the topic of a number of recent research reports. Zacks Research raised shares of KT from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 29th. Weiss Ratings downgraded shares of KT from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, October 30th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, KT presently has an average rating of "Hold" and a consensus target price of $23.08.

KT Company Profile

KT Corporation, formerly known as Korea Telecom, is a South Korean telecommunications and technology company. Established as a state-owned telecommunications provider in 1981, it was privatized in 2002 and adopted the KT name.

The company provides fixed-line and mobile communications, high-speed internet and broadband, and IPTV services. It also serves businesses and public-sector organizations with information and communications technology solutions, including cloud, data center and network services.

KT's operations are centered primarily in South Korea, where it serves consumers, businesses and government customers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.