Mondrian Investment Partners LTD Buys 177,892 Shares of KT Corporation $KT

Key Points

• Mondrian Investment Partners increased its KT Corporation stake by 7.3%, purchasing 177,892 additional shares to reach 2.62 million shares worth approximately $49.7 million.
• KT shares opened at $17.28, near their 52-week low of $17.13 and below the 50-day and 200-day moving averages of roughly $19.11 and $19.17, respectively.
• Analysts maintain a generally cautious outlook, with one Buy and two Hold ratings, an overall average rating of “Hold,” and an average price target of $23.08.

Mondrian Investment Partners LTD increased its stake in shares of KT Corporation (NYSE:KT - Free Report) by 7.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,620,126 shares of the technology company's stock after purchasing an additional 177,892 shares during the quarter. Mondrian Investment Partners LTD owned about 0.54% of KT worth $49,651,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allworth Financial LP raised its position in KT by 17.6% in the 2nd quarter. Allworth Financial LP now owns 4,867 shares of the technology company's stock worth $84,000 after purchasing an additional 727 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of KT in the 2nd quarter valued at $178,000. WINTON GROUP Ltd acquired a new stake in shares of KT in the 2nd quarter valued at $185,000. EverSource Wealth Advisors LLC increased its stake in shares of KT by 41.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 9,122 shares of the technology company's stock valued at $196,000 after buying an additional 2,653 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of KT during the first quarter worth $261,000. Institutional investors and hedge funds own 18.86% of the company's stock.

KT Trading Down 1.0%

Shares of NYSE KT opened at $17.28 on Friday. KT Corporation has a fifty-two week low of $17.13 and a fifty-two week high of $24.58. The firm has a market capitalization of $8.33 billion, a P/E ratio of 9.29, a P/E/G ratio of 4.23 and a beta of 0.56. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.13 and a quick ratio of 1.08. The company's 50 day simple moving average is $19.11 and its 200 day simple moving average is $19.17.

KT (NYSE:KT - Get Free Report) last released its earnings results on Wednesday, September 2nd. The technology company reported $0.61 EPS for the quarter. The firm 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%. On average, analysts predict that KT Corporation will post 2.06 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Zacks Research raised KT from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded KT from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 16th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $23.08.

KT Profile

KT Corporation is a South Korean telecommunications and technology company headquartered in Seoul. Formerly known as Korea Telecom, the company traces its origins to 1981 and was fully privatized in 2002. Its American depositary shares trade on the New York Stock Exchange under the symbol KT.

KT provides fixed-line and wireless telecommunications services, including mobile voice and data, broadband internet, and internet protocol television. The company also offers digital services such as cloud computing, data center operations, information and communications technology solutions, and enterprise networking for businesses and public-sector organizations.

KT primarily serves customers in South Korea while supporting international business clients through its global telecommunications and technology networks.

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