Millennium Management LLC Lowers Position in KT Co. (NYSE:KT)

Millennium Management LLC lessened its stake in KT Co. (NYSE:KT) by 81.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,495 shares of the technology company’s stock after selling 53,224 shares during the period. Millennium Management LLC’s holdings in KT were worth $194,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of KT. Kestra Private Wealth Services LLC acquired a new position in shares of KT during the 4th quarter worth approximately $670,000. Savant Capital LLC acquired a new position in shares of KT during the 4th quarter worth approximately $182,000. Rhumbline Advisers raised its stake in shares of KT by 57.4% during the 4th quarter. Rhumbline Advisers now owns 90,816 shares of the technology company’s stock worth $1,409,000 after buying an additional 33,119 shares during the period. Principal Securities Inc. raised its stake in shares of KT by 70.6% during the 4th quarter. Principal Securities Inc. now owns 3,730 shares of the technology company’s stock worth $58,000 after buying an additional 1,544 shares during the period. Finally, Truist Financial Corp acquired a new position in shares of KT during the 4th quarter worth approximately $181,000. Hedge funds and other institutional investors own 18.86% of the company’s stock.

KT Trading Up 1.8%

Shares of KT stock opened at $20.13 on Friday. The stock’s fifty day moving average is $18.80 and its two-hundred day moving average is $17.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.98 and a current ratio of 1.04. The firm has a market capitalization of $10.38 billion, a P/E ratio of 11.31, a PEG ratio of 0.37 and a beta of 0.66. KT Co. has a fifty-two week low of $13.11 and a fifty-two week high of $20.28.

Analyst Ratings Changes

Several research analysts have recently weighed in on KT shares. UBS Group started coverage on KT in a research note on Wednesday, February 19th. They set a “buy” rating for the company. Wall Street Zen downgraded KT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 20th. Finally, The Goldman Sachs Group raised KT from a “neutral” rating to a “buy” rating in a research note on Monday, March 3rd.

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.