Niatross Investments Ltd Raises Holdings in KT Corporation $KT

Key Points

• Niatross Investments increased its KT Corporation stake by 18.8% in the second quarter, purchasing 1.74 million additional shares. It now owns 11.01 million shares valued at approximately $190.2 million, representing 2.28% of KT and the entirety of its portfolio.
• Institutional investors own 18.86% of KT, while several firms—including EverSource Wealth Advisors and Janney Montgomery Scott—also modestly increased their positions.
• Analyst sentiment is cautious: KT has an average rating of “Hold” and a consensus price target of $23.08. The stock opened at $19.80, with a market capitalization of about $9.55 billion and a 12-month trading range of $17.13 to $24.58.

Niatross Investments Ltd increased its stake in KT Corporation (NYSE:KT - Free Report) by 18.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,006,064 shares of the technology company's stock after purchasing an additional 1,744,003 shares during the quarter. KT comprises about 100.0% of Niatross Investments Ltd's portfolio, making the stock its biggest holding. Niatross Investments Ltd owned 2.28% of KT worth $190,185,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its position in shares of KT by 1.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 33,164 shares of the technology company's stock worth $711,000 after buying an additional 470 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of KT by 1.1% in the first quarter. Royal Bank of Canada now owns 102,808 shares of the technology company's stock valued at $1,820,000 after acquiring an additional 1,078 shares in the last quarter. Triumph Capital Management bought a new position in shares of KT in the third quarter valued at approximately $47,000. DGS Capital Management LLC increased its stake in shares of KT by 1.4% during the fourth quarter. DGS Capital Management LLC now owns 175,178 shares of the technology company's stock valued at $3,323,000 after acquiring an additional 2,400 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of KT by 41.0% during the first quarter. EverSource Wealth Advisors LLC now owns 9,122 shares of the technology company's stock valued at $196,000 after acquiring an additional 2,653 shares during the period. Institutional investors own 18.86% of the company's stock.

Wall Street Analysts Forecast Growth

KT has been the subject of a number of research analyst reports. Zacks Research upgraded KT from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. Weiss Ratings downgraded KT from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, August 13th. Finally, Bank of America downgraded KT from a "buy" rating to a "neutral" rating and set a $23.08 price objective on the stock. in a research note on Thursday, May 14th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $23.08.

KT Stock Down 0.2%

NYSE KT opened at $19.80 on Friday. KT Corporation has a 12 month low of $17.13 and a 12 month high of $24.58. The company has a market capitalization of $9.55 billion, a P/E ratio of 8.76, a PEG ratio of 4.84 and a beta of 0.56. The company's 50 day simple moving average is $18.47 and its 200 day simple moving average is $20.03. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.11.

KT Profile

KT Corporation, listed on the New York Stock Exchange as an American depositary receipt under the symbol KT, is a major telecommunications and information technology provider headquartered in Seongnam, South Korea. The company's services span traditional fixed-line voice communication, high-speed broadband internet access and mobile cellular networks. Leveraging an extensive fiber-optic and wireless infrastructure, KT delivers voice, data and multimedia solutions to both consumer and enterprise customers.

KT has been at the forefront of technological innovation in its home market, launching South Korea's first commercial 5G network and expanding its offerings to include Internet of Things (IoT) platforms, cloud computing services and cybersecurity solutions.

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