Wellington Management Group LLP Boosts Stock Holdings in KT Corporation $KT

Wellington Management Group LLP boosted its holdings in shares of KT Corporation (NYSE:KT) by 17.6% during the 2nd quarter, Holdings Channel reports. The fund owned 26,973,001 shares of the technology company’s stock after buying an additional 4,028,281 shares during the period. Wellington Management Group LLP owned about 0.06% of KT worth $466,093,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Lazard Asset Management LLC raised its holdings in shares of KT by 1.2% in the 2nd quarter. Lazard Asset Management LLC now owns 3,250,513 shares of the technology company’s stock valued at $67,545,000 after purchasing an additional 37,744 shares in the last quarter. Millennium Management LLC increased its stake in shares of KT by 4,148.2% in the first quarter. Millennium Management LLC now owns 530,817 shares of the technology company’s stock worth $9,401,000 after acquiring an additional 518,322 shares during the period. Natixis Advisors LLC boosted its holdings in KT by 39.8% in the third quarter. Natixis Advisors LLC now owns 280,713 shares of the technology company’s stock valued at $5,474,000 after purchasing an additional 79,891 shares during the last quarter. Jane Street Group LLC grew its position in KT by 107.9% during the 1st quarter. Jane Street Group LLC now owns 242,212 shares of the technology company’s stock worth $4,290,000 after purchasing an additional 125,702 shares during the period. Finally, DGS Capital Management LLC boosted its stake in KT by 10.6% during the first quarter. DGS Capital Management LLC now owns 193,757 shares of the technology company’s stock worth $4,156,000 after buying an additional 18,579 shares during the last quarter. Hedge funds and other institutional investors own 18.86% of the company’s stock.

KT Price Performance

Shares of KT opened at $19.61 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.11. The stock has a market cap of $9.46 billion, a PE ratio of 8.68, a P/E/G ratio of 4.79 and a beta of 0.54. The firm has a 50-day simple moving average of $18.28 and a two-hundred day simple moving average of $20.14. KT Corporation has a 1-year low of $17.13 and a 1-year high of $24.58.

Analyst Ratings Changes

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

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.