Envestnet Asset Management Inc. Buys 188,805 Shares of KT Corporation (NYSE:KT)

Envestnet Asset Management Inc. increased its stake in KT Corporation (NYSE:KT) by 33.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 753,320 shares of the technology company’s stock after purchasing an additional 188,805 shares during the period. Envestnet Asset Management Inc. owned approximately 0.15% of KT worth $13,341,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in KT by 29.8% in the fourth quarter. Bank of New York Mellon Corp now owns 18,181 shares of the technology company’s stock valued at $282,000 after buying an additional 4,173 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in KT in the fourth quarter valued at about $4,333,000. HighTower Advisors LLC boosted its stake in KT by 30.0% in the fourth quarter. HighTower Advisors LLC now owns 36,241 shares of the technology company’s stock valued at $562,000 after buying an additional 8,369 shares in the last quarter. Natixis Advisors LLC boosted its stake in KT by 23.0% in the fourth quarter. Natixis Advisors LLC now owns 242,160 shares of the technology company’s stock valued at $3,758,000 after buying an additional 45,225 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in KT by 15.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 14,959 shares of the technology company’s stock valued at $232,000 after buying an additional 1,996 shares in the last quarter. Institutional investors own 18.86% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered KT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 20th.

KT Stock Performance

Shares of KT stock opened at $20.82 on Friday. The business’s 50-day moving average price is $20.01 and its 200-day moving average price is $18.39. KT Corporation has a 12 month low of $13.18 and a 12 month high of $21.61. The firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 0.17 and a beta of 0.68. The company has a current ratio of 1.10, a quick ratio of 1.04 and a debt-to-equity ratio of 0.41.

KT (NYSE:KT) last announced its quarterly earnings results on Tuesday, June 17th. The technology company reported $0.75 EPS for the quarter. KT had a return on equity of 3.47% and a net margin of 2.37%. The firm had revenue of $4.71 billion for the quarter. Equities research analysts forecast that KT Corporation will post 0.73 EPS for the current year.

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.