Ninety One North America Inc. Acquires 206,288 Shares of KT Corporation (NYSE:KT)

Ninety One North America Inc. raised its stake in shares of KT Corporation (NYSE:KT - Free Report) by 25.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,027,760 shares of the technology company's stock after purchasing an additional 206,288 shares during the period. Ninety One North America Inc. owned 0.20% of KT worth $18,202,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in KT by 392.0% during the fourth quarter. Wellington Management Group LLP now owns 9,917,081 shares of the technology company's stock valued at $153,913,000 after purchasing an additional 7,901,522 shares during the last quarter. Capital International Investors acquired a new stake in shares of KT in the fourth quarter worth $135,833,000. Robeco Institutional Asset Management B.V. grew its stake in shares of KT by 18.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 5,547,691 shares of the technology company's stock worth $98,250,000 after acquiring an additional 875,840 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of KT by 1.7% in the fourth quarter. Lazard Asset Management LLC now owns 3,117,223 shares of the technology company's stock worth $48,378,000 after acquiring an additional 53,200 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of KT by 28.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,697,187 shares of the technology company's stock worth $26,340,000 after acquiring an additional 376,194 shares during the last quarter. Institutional investors and hedge funds own 18.86% of the company's stock.

KT Stock Performance

KT traded up $0.27 during trading on Thursday, reaching $20.94. 1,000,583 shares of the company's stock were exchanged, compared to its average volume of 1,278,708. KT Corporation has a fifty-two week low of $13.13 and a fifty-two week 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 business has a 50 day moving average price of $19.80 and a 200 day moving average price of $18.14. The company has a market capitalization of $10.80 billion, a P/E ratio of 22.76, a PEG ratio of 0.17 and a beta of 0.68.

KT (NYSE:KT - Get Free Report) last posted its quarterly earnings results on Tuesday, June 17th. The technology company reported $0.75 earnings per share for the quarter. KT had a net margin of 2.37% and a return on equity of 3.47%. The firm had revenue of $4.71 billion for the quarter. As a group, analysts predict that KT Corporation will post 0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of KT from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, May 20th.

KT Company 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.