Short Interest in KT Corporation (NYSE:KT) Expands By 19.5%

Key Points

• Short interest in KT Corporation increased by 19.5% in August, reaching a total of 2,570,000 shares by the end of the month.
• KT recently announced a quarterly dividend of $0.2164 per share, yielding 4.5% annually, with a payout ratio of 52.59%.
• Brokerages have upgraded KT's rating from "buy" to "strong-buy", indicating positive sentiment among analysts regarding the company's stock performance.

KT Corporation (NYSE:KT - Get Free Report) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 2,570,000 shares, an increase of 19.5% from the August 15th total of 2,150,000 shares. Approximately 0.5% of the company's shares are short sold. Based on an average trading volume of 1,290,000 shares, the days-to-cover ratio is currently 2.0 days. Based on an average trading volume of 1,290,000 shares, the days-to-cover ratio is currently 2.0 days. Approximately 0.5% of the company's shares are short sold.

KT Trading Down 0.0%

Shares of KT stock traded down $0.01 during midday trading on Monday, reaching $19.39. 661,298 shares of the company's stock traded hands, compared to its average volume of 1,387,449. KT has a 12 month low of $14.77 and a 12 month high of $21.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.15 and a current ratio of 1.19. The stock has a 50 day moving average of $20.40 and a 200-day moving average of $19.48. The company has a market cap of $10.00 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 0.13 and a beta of 0.72.

KT (NYSE:KT - Get Free Report) last announced its quarterly earnings results on Friday, September 5th. The technology company reported $1.01 earnings per share for the quarter. The company had revenue of $5.31 billion during the quarter. KT had a net margin of 3.35% and a return on equity of 5.06%. As a group, equities analysts expect that KT will post 0.73 EPS for the current fiscal year.

KT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Wednesday, July 30th were paid a $0.2164 dividend. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Wednesday, July 30th. KT's dividend payout ratio (DPR) is presently 52.59%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Bruce G. Allen Investments LLC boosted its holdings in shares of KT by 21.9% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 2,890 shares of the technology company's stock valued at $60,000 after acquiring an additional 519 shares in the last quarter. TD Private Client Wealth LLC increased its stake in KT by 8.0% in the second quarter. TD Private Client Wealth LLC now owns 10,768 shares of the technology company's stock valued at $224,000 after purchasing an additional 798 shares in the last quarter. Park Place Capital Corp grew its stake in KT by 66.7% in the first quarter. Park Place Capital Corp now owns 2,047 shares of the technology company's stock valued at $36,000 after acquiring an additional 819 shares during the period. Atlas Capital Advisors Inc. raised its holdings in KT by 4.8% during the first quarter. Atlas Capital Advisors Inc. now owns 20,273 shares of the technology company's stock worth $359,000 after buying an additional 935 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in KT by 1.1% during the 1st quarter. Royal Bank of Canada now owns 102,808 shares of the technology company's stock worth $1,820,000 after purchasing an additional 1,078 shares in the last quarter. Institutional investors own 18.86% of the company's stock.

Wall Street Analysts Forecast Growth

KT has been the subject of several research analyst reports. Zacks Research upgraded shares of KT from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 27th. Wall Street Zen upgraded KT from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy".

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.