NINE MASTS CAPITAL Ltd Makes New Investment in KT Corporation $KT

Key Points

• NINE MASTS CAPITAL acquired 228,574 shares of KT Corporation during the second quarter, valued at approximately $3.95 million and representing 0.4% of its portfolio.
• Other institutional investors also increased or initiated positions in KT, bringing total institutional ownership to 18.86%.
• Analysts maintain a consensus “Hold” rating on KT, with a price target of $23.08 versus the stock’s reported opening price of $19.61.

NINE MASTS CAPITAL Ltd bought a new position in shares of KT Corporation (NYSE:KT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 228,574 shares of the technology company's stock, valued at approximately $3,950,000. KT accounts for approximately 0.4% of NINE MASTS CAPITAL Ltd's holdings, making the stock its 28th biggest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Triumph Capital Management acquired a new stake in shares of KT in the 3rd quarter valued at approximately $47,000. Quantbot Technologies LP acquired a new position in KT during the third quarter valued at approximately $81,000. Westpac Banking Corp acquired a new position in KT during the fourth quarter valued at approximately $157,000. EverSource Wealth Advisors LLC grew its holdings in 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 purchasing an additional 2,653 shares during the period. Finally, Arax Advisory Partners increased its stake in KT by 512.7% in the fourth quarter. Arax Advisory Partners now owns 10,918 shares of the technology company's stock valued at $207,000 after purchasing an additional 9,136 shares in the last quarter. 18.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on KT shares. Weiss Ratings lowered shares of KT from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, August 13th. Zacks Research upgraded shares of KT from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. Finally, Bank of America cut shares of KT from a "buy" rating to a "neutral" rating and set a $23.08 price objective for the company. in a research report on Thursday, May 14th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, KT currently has a consensus rating of "Hold" and a consensus price target of $23.08.

KT Stock Performance

Shares of KT stock opened at $19.61 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.11 and a current ratio of 1.15. The company has a market capitalization of $9.46 billion, a P/E ratio of 8.68, a price-to-earnings-growth ratio of 4.79 and a beta of 0.54. The company's 50 day moving average price is $18.28 and its two-hundred day moving average price is $20.13. KT Corporation has a 52 week low of $17.13 and a 52 week high of $24.58.

KT Company 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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