Walleye Capital LLC Invests $766,000 in KT Corporation $KT

Key Points

• Walleye Capital LLC has invested approximately $766,000 in KT Corporation, acquiring 43,275 shares in the first quarter, as reported in their Form 13F filing.
• KT Corporation has announced a quarterly dividend of $0.2164 per share, which reflects an annualized dividend of $0.87 and a dividend yield of 4.3%.
• Analyst ratings for KT have improved, with Zacks and Wall Street Zen upgrading the stock to a "strong-buy" rating, and the consensus rating now reflects a strong buy from several analysts.

Walleye Capital LLC acquired a new stake in KT Corporation (NYSE:KT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,275 shares of the technology company's stock, valued at approximately $766,000.

A number of other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of KT by 3.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,612,820 shares of the technology company's stock valued at $187,954,000 after purchasing an additional 388,592 shares during the period. Wellington Management Group LLP increased its holdings in shares of KT by 2.0% in the first quarter. Wellington Management Group LLP now owns 10,115,990 shares of the technology company's stock valued at $179,154,000 after purchasing an additional 198,909 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings 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 valued at $98,250,000 after purchasing an additional 875,840 shares during the period. Ninety One UK Ltd grew its holdings in KT by 28.3% during the first quarter. Ninety One UK Ltd now owns 4,890,767 shares of the technology company's stock worth $86,615,000 after acquiring an additional 1,079,860 shares during the period. Finally, Boston Partners grew its holdings in KT by 193.2% during the first quarter. Boston Partners now owns 3,658,852 shares of the technology company's stock worth $64,806,000 after acquiring an additional 2,410,971 shares during the period. 18.86% of the stock is owned by institutional investors and hedge funds.

KT Price Performance

KT stock traded up $0.06 during mid-day trading on Thursday, reaching $20.04. 460,781 shares of the company's stock were exchanged, compared to its average volume of 1,378,652. The company has a market cap of $10.33 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 0.14 and a beta of 0.72. The stock's 50 day moving average is $20.62 and its 200 day moving average is $19.24. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 1.04. KT Corporation has a 12-month low of $14.77 and a 12-month high of $21.61.

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

KT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Wednesday, July 30th were given a $0.2164 dividend. This represents a $0.87 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Wednesday, July 30th. KT's dividend payout ratio (DPR) is 77.17%.

Analyst Ratings Changes

Several research analysts recently weighed in on KT shares. Zacks Research upgraded KT from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 27th. Wall Street Zen raised shares of KT from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Strong Buy".

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.