KT Corporation $KT Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in KT Corporation by 5.3%, now holding 2,467,034 shares valued at approximately $43.66 million.
• Other hedge funds increased their positions in KT, with Park Place Capital Corp increasing by 66.7% and Farther Finance Advisors LLC by 174.8% during the same quarter.
• KT Corporation reported $0.75 EPS for the last quarter, with a net margin of 2.37% and revenues of $4.71 billion.

Russell Investments Group Ltd. trimmed its stake in KT Corporation (NYSE:KT - Free Report) by 5.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,467,034 shares of the technology company's stock after selling 138,395 shares during the period. Russell Investments Group Ltd. owned approximately 0.48% of KT worth $43,656,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cerity Partners LLC raised its position in KT by 52.7% in the 1st quarter. Cerity Partners LLC now owns 66,781 shares of the technology company's stock valued at $1,183,000 after purchasing an additional 23,045 shares during the last quarter. GAMMA Investing LLC increased its stake in KT by 20.4% in the first quarter. GAMMA Investing LLC now owns 7,820 shares of the technology company's stock valued at $138,000 after purchasing an additional 1,323 shares during the period. Envestnet Asset Management Inc. raised 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 valued at $13,341,000 after buying an additional 188,805 shares during the last quarter. Ninety One UK Ltd raised 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 valued at $86,615,000 after buying an additional 1,079,860 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of KT by 3.0% during the first quarter. Rhumbline Advisers now owns 93,547 shares of the technology company's stock worth $1,657,000 after buying an additional 2,731 shares during the period. 18.86% of the stock is currently owned by institutional investors and hedge funds.

KT Stock Performance

Shares of NYSE KT traded up $0.14 during mid-day trading on Monday, hitting $20.73. 563,222 shares of the company were exchanged, compared to its average volume of 1,361,383. The stock has a 50 day simple moving average of $20.47 and a 200-day simple moving average of $18.96. KT Corporation has a 1-year low of $14.34 and a 1-year high of $21.61. The company has a quick ratio of 1.04, a current ratio of 1.10 and a debt-to-equity ratio of 0.41. The firm has a market cap of $10.69 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 0.15 and a beta of 0.69.

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut KT from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, May 20th.

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.