Krane Funds Advisors LLC bought a new position in shares of KT Corp (NYSE:KT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 95,000 shares of the technology company’s stock, valued at approximately $1,262,000.
Several other hedge funds have also recently modified their holdings of KT. M&T Bank Corp acquired a new position in KT in the first quarter valued at $160,000. Quantbot Technologies LP acquired a new position in KT in the first quarter valued at $172,000. ETRADE Capital Management LLC boosted its stake in KT by 66.0% in the first quarter. ETRADE Capital Management LLC now owns 20,174 shares of the technology company’s stock valued at $276,000 after acquiring an additional 8,021 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in KT by 23.3% in the first quarter. Cubist Systematic Strategies LLC now owns 30,825 shares of the technology company’s stock valued at $422,000 after acquiring an additional 5,827 shares in the last quarter. Finally, Greenleaf Trust acquired a new position in KT in the second quarter valued at $441,000. Hedge funds and other institutional investors own 29.51% of the company’s stock.
KT has been the subject of several research analyst reports. Morgan Stanley upgraded shares of KT from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, August 7th. ValuEngine downgraded shares of KT from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. KT has a consensus rating of “Hold” and a consensus price target of $18.00.
Shares of KT traded up $0.08 during mid-day trading on Wednesday, hitting $13.93. 3,114 shares of the company’s stock were exchanged, compared to its average volume of 759,679. KT Corp has a fifty-two week low of $12.55 and a fifty-two week high of $16.12. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 1.22 and a beta of 0.52. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.11 and a current ratio of 1.18.
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.
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