Dorsey Wright & Associates Trims Stock Holdings in KT Corporation $KT

Dorsey Wright & Associates cut its holdings in shares of KT Corporation (NYSE:KT) by 38.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,691 shares of the technology company’s stock after selling 50,854 shares during the quarter. Dorsey Wright & Associates’ holdings in KT were worth $1,698,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its stake in KT by 506.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,504 shares of the technology company’s stock valued at $52,000 after acquiring an additional 2,091 shares during the last quarter. Bruce G. Allen Investments LLC lifted its position in shares of KT by 21.9% during the second quarter. Bruce G. Allen Investments LLC now owns 2,890 shares of the technology company’s stock worth $60,000 after purchasing an additional 519 shares during the last quarter. Brooklyn Investment Group grew its stake in KT by 1,901.0% in the first quarter. Brooklyn Investment Group now owns 4,122 shares of the technology company’s stock worth $73,000 after purchasing an additional 3,916 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in KT by 185.4% in the first quarter. Caitong International Asset Management Co. Ltd now owns 4,353 shares of the technology company’s stock valued at $77,000 after buying an additional 2,828 shares during the last quarter. Finally, SVB Wealth LLC acquired a new stake in KT during the first quarter valued at approximately $77,000. 18.86% of the stock is currently owned by hedge funds and other institutional investors.

KT Trading Down 1.4%

NYSE:KT opened at $17.88 on Wednesday. The firm has a market capitalization of $9.22 billion, a P/E ratio of 13.24, a P/E/G ratio of 0.13 and a beta of 0.70. The business has a 50 day simple moving average of $19.02 and a 200 day simple moving average of $19.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.19 and a quick ratio of 1.15. KT Corporation has a 12-month low of $15.01 and a 12-month high of $21.61.

KT (NYSE:KT) last posted its earnings results on Friday, September 5th. The technology company reported $1.01 earnings per share (EPS) for the quarter. The company had revenue of $5.31 billion for the quarter. KT had a return on equity of 5.06% and a net margin of 3.35%. Equities research analysts predict that KT Corporation will post 0.73 EPS for the current year.

Analyst Ratings Changes

KT has been the subject of several research reports. Wall Street Zen lowered KT from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 11th. Zacks Research downgraded shares of KT from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of KT in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

About KT

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.