Bessemer Group Inc. Grows Position in KT Corporation $KT

Bessemer Group Inc. raised its stake in shares of KT Corporation (NYSE:KT) by 166.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,093 shares of the technology company’s stock after acquiring an additional 31,327 shares during the period. Bessemer Group Inc.’s holdings in KT were worth $1,074,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC lifted its position in shares of KT by 1.2% during the second quarter. Lazard Asset Management LLC now owns 3,250,513 shares of the technology company’s stock valued at $67,545,000 after purchasing an additional 37,744 shares in the last quarter. Millennium Management LLC lifted its position in shares of KT by 4,148.2% during the 1st quarter. Millennium Management LLC now owns 530,817 shares of the technology company’s stock worth $9,401,000 after buying an additional 518,322 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of KT by 39.8% during the 3rd quarter. Natixis Advisors LLC now owns 280,713 shares of the technology company’s stock worth $5,474,000 after buying an additional 79,891 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of KT by 107.9% in the 1st quarter. Jane Street Group LLC now owns 242,212 shares of the technology company’s stock worth $4,290,000 after buying an additional 125,702 shares during the last quarter. Finally, DGS Capital Management LLC grew its holdings in shares of KT by 10.6% in the first quarter. DGS Capital Management LLC now owns 193,757 shares of the technology company’s stock valued at $4,156,000 after acquiring an additional 18,579 shares in the last quarter. 18.86% of the stock is owned by hedge funds and other institutional investors.

KT Price Performance

Shares of NYSE KT opened at $18.25 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.11 and a current ratio of 1.15. KT Corporation has a fifty-two week low of $17.13 and a fifty-two week high of $24.58. The stock has a market cap of $8.80 billion, a PE ratio of 8.08 and a beta of 0.55. The stock has a fifty day moving average of $18.13 and a 200-day moving average of $20.35.

Analyst Ratings Changes

A number of equities research analysts have recently commented on KT shares. Wall Street Zen cut KT from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Zacks Research downgraded shares of KT from a “hold” rating to a “strong sell” rating in a report on Thursday, May 14th. Weiss Ratings lowered shares of KT from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Finally, Bank of America lowered shares of KT from a “buy” rating to a “neutral” rating and set a $23.08 price target for the company. in a research note on Thursday, May 14th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, KT presently has a consensus rating of “Hold” and a consensus target price of $23.08.

About KT

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.