KT Corp (NYSE:KT) Stake Lessened by Krane Funds Advisors LLC

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Krane Funds Advisors LLC trimmed its position in shares of KT Corp (NYSE:KT) by 42.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,966 shares of the technology company’s stock after selling 40,034 shares during the quarter. Krane Funds Advisors LLC’s holdings in KT were worth $816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in shares of KT by 30.1% during the second quarter. Bank of New York Mellon Corp now owns 68,568 shares of the technology company’s stock worth $910,000 after buying an additional 15,852 shares during the last quarter. BlackRock Inc. grew its position in KT by 1.4% in the second quarter. BlackRock Inc. now owns 3,525,853 shares of the technology company’s stock valued at $46,822,000 after acquiring an additional 50,126 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in KT by 1.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 247,287 shares of the technology company’s stock valued at $3,284,000 after acquiring an additional 3,942 shares during the period. Citadel Advisors LLC grew its position in KT by 242.4% in the second quarter. Citadel Advisors LLC now owns 49,449 shares of the technology company’s stock valued at $657,000 after acquiring an additional 35,008 shares during the period. Finally, Bank of America Corp DE grew its position in KT by 35.0% in the second quarter. Bank of America Corp DE now owns 841,845 shares of the technology company’s stock valued at $11,179,000 after acquiring an additional 218,155 shares during the period. Institutional investors and hedge funds own 31.79% of the company’s stock.

KT has been the topic of several research reports. ValuEngine raised KT from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Nomura raised KT from a “reduce” rating to a “neutral” rating in a research note on Friday, December 7th. Zacks Investment Research upgraded KT from a “strong sell” rating to a “hold” rating in a report on Thursday, October 4th. Finally, HSBC downgraded KT from a “buy” rating to a “hold” rating in a report on Friday, October 26th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $16.00.

KT traded down $0.27 during midday trading on Thursday, hitting $14.40. 424,900 shares of the company were exchanged, compared to its average volume of 491,429. The company has a market capitalization of $7.13 billion, a PE ratio of 16.36, a PEG ratio of 0.99 and a beta of 0.58. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 0.33. KT Corp has a 1-year low of $12.55 and a 1-year high of $16.10.

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KT Company Profile

KT Corporation provides telecommunications services in Korea and internationally. The company offers local, domestic long-distance, and international long-distance fixed-line and voice over Internet protocol fixed-line telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services, including IPTV services; and data communication services, such as leased line and broadband Internet connection services to institutional customers.

Further Reading: Market Capitalization and Individual Investors

Institutional Ownership by Quarter for KT (NYSE:KT)

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