KT Corporation $KT Shares Purchased by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in KT Corporation by 2.0% during the first quarter, owning approximately 10.1 million shares valued at $179 million.
• Several institutional investors have also boosted their holdings in KT, with Parks Place Capital Corp growing its stake by 66.7%.
• Analysts recently dropped KT's rating from "strong-buy" to "buy", but the stock currently has an average rating of "buy" among equity research analysts.

Wellington Management Group LLP boosted its stake in shares of KT Corporation (NYSE:KT - Free Report) by 2.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,115,990 shares of the technology company's stock after acquiring an additional 198,909 shares during the period. Wellington Management Group LLP owned 1.96% of KT worth $179,154,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Park Place Capital Corp lifted its holdings in shares of KT by 66.7% in the 1st quarter. Park Place Capital Corp now owns 2,047 shares of the technology company's stock worth $36,000 after acquiring an additional 819 shares during the last quarter. Atlas Capital Advisors Inc. raised its stake in shares of KT by 4.8% during the first quarter. Atlas Capital Advisors Inc. now owns 20,273 shares of the technology company's stock valued at $359,000 after acquiring an additional 935 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of KT by 20.4% in the 1st quarter. GAMMA Investing LLC now owns 7,820 shares of the technology company's stock valued at $138,000 after purchasing an additional 1,323 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of KT by 9.2% in the 1st quarter. Blue Trust Inc. now owns 15,675 shares of the technology company's stock valued at $278,000 after purchasing an additional 1,327 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC raised its holdings in shares of KT by 9.4% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 15,919 shares of the technology company's stock valued at $282,000 after purchasing an additional 1,362 shares in the last quarter. Institutional investors own 18.86% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of KT from a "buy" rating to a "strong-buy" rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat.com, KT presently has an average rating of "Buy".

KT Stock Performance

NYSE:KT traded down $0.53 during trading hours on Tuesday, hitting $20.45. 1,778,643 shares of the company were exchanged, compared to its average volume of 1,442,747. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 0.15 and a beta of 0.69. KT Corporation has a 52-week low of $14.53 and a 52-week high of $21.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 1.04. The company's 50 day moving average price is $20.59 and its 200-day moving average price is $19.12.

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

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.