New York State Common Retirement Fund Makes New $1.53 Million Investment in KT Corporation $KT

New York State Common Retirement Fund purchased a new stake in shares of KT Corporation (NYSE:KT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 78,262 shares of the technology company’s stock, valued at approximately $1,526,000.

A number of other hedge funds and other institutional investors have also modified their holdings of KT. Arkadios Wealth Advisors acquired a new position in KT during the 3rd quarter valued at about $198,000. TD Private Client Wealth LLC raised its stake in shares of KT by 47.1% during the third quarter. TD Private Client Wealth LLC now owns 15,841 shares of the technology company’s stock worth $309,000 after buying an additional 5,073 shares during the last quarter. Hosking Partners LLP acquired a new position in KT in the third quarter valued at approximately $675,000. Burns Matteson Capital Management LLC lifted its holdings in KT by 20.2% in the third quarter. Burns Matteson Capital Management LLC now owns 11,538 shares of the technology company’s stock valued at $225,000 after buying an additional 1,941 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in KT by 39.4% in the third quarter. Farther Finance Advisors LLC now owns 11,654 shares of the technology company’s stock valued at $227,000 after acquiring an additional 3,296 shares during the last quarter. Institutional investors and hedge funds own 18.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of KT in a research note on Monday, December 29th. Wall Street Zen lowered KT from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 28th. Finally, Zacks Research raised KT from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

KT Stock Performance

Shares of KT opened at $21.78 on Tuesday. KT Corporation has a 12 month low of $16.25 and a 12 month high of $21.80. The firm has a fifty day simple moving average of $19.40 and a 200 day simple moving average of $19.40. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.24.

KT Company Profile

KT Corporation, listed on the New York Stock Exchange as an American depositary receipt under the symbol KT, is a major telecommunications and information technology provider headquartered in Seongnam, South Korea. The company’s services span traditional fixed-line voice communication, high-speed broadband internet access and mobile cellular networks. Leveraging an extensive fiber-optic and wireless infrastructure, KT delivers voice, data and multimedia solutions to both consumer and enterprise customers.

KT has been at the forefront of technological innovation in its home market, launching South Korea’s first commercial 5G network and expanding its offerings to include Internet of Things (IoT) platforms, cloud computing services and cybersecurity solutions.