Boston Partners decreased its holdings in shares of KT Corp (NYSE:KT) by 10.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,631,385 shares of the technology company’s stock after selling 305,887 shares during the period. Boston Partners’ holdings in KT were worth $32,550,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in KT. Centre Asset Management LLC lifted its position in KT by 33.8% in the second quarter. Centre Asset Management LLC now owns 21,860 shares of the technology company’s stock valued at $270,000 after purchasing an additional 5,520 shares during the period. LPL Financial LLC acquired a new stake in KT in the second quarter valued at about $1,927,000. DekaBank Deutsche Girozentrale lifted its position in KT by 48.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 471,900 shares of the technology company’s stock valued at $6,802,000 after purchasing an additional 154,400 shares during the period. Acadian Asset Management LLC lifted its position in KT by 15.4% in the second quarter. Acadian Asset Management LLC now owns 9,863,079 shares of the technology company’s stock valued at $122,007,000 after purchasing an additional 1,319,485 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in KT by 2.1% in the second quarter. Rockefeller Capital Management L.P. now owns 2,703,022 shares of the technology company’s stock valued at $33,436,000 after purchasing an additional 56,011 shares during the period. Institutional investors and hedge funds own 34.09% of the company’s stock.
KT stock traded down $0.01 during mid-day trading on Thursday, reaching $11.51. The company had a trading volume of 5,167 shares, compared to its average volume of 432,080. KT Corp has a 1 year low of $10.86 and a 1 year high of $15.42. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.19 and a quick ratio of 1.13. The company has a market capitalization of $5.70 billion, a P/E ratio of 9.01, a P/E/G ratio of 0.89 and a beta of 0.39. The stock’s 50-day simple moving average is $11.29 and its 200-day simple moving average is $12.07.
A number of equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of KT from a “hold” rating to a “sell” rating in a research report on Saturday, July 13th. ValuEngine cut shares of KT from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd.
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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