Millennium Management LLC Decreases Stake in KT Co. (NYSE:KT)

Millennium Management LLC lowered its position in KT Co. (NYSE:KT) by 81.0% during the fourth quarter, HoldingsChannel reports. The firm 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 reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Securities Inc. increased its stake in shares of KT by 70.6% in the 4th quarter. Principal Securities Inc. now owns 3,730 shares of the technology company’s stock worth $58,000 after acquiring an additional 1,544 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of KT by 58.2% in the 4th quarter. Global Retirement Partners LLC now owns 7,253 shares of the technology company’s stock worth $113,000 after acquiring an additional 2,667 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of KT by 37.5% in the 4th quarter. TD Private Client Wealth LLC now owns 7,996 shares of the technology company’s stock worth $124,000 after acquiring an additional 2,181 shares during the last quarter. Truist Financial Corp acquired a new stake in shares of KT in the 4th quarter worth $181,000. Finally, Savant Capital LLC acquired a new stake in shares of KT in the 4th quarter worth $182,000. Hedge funds and other institutional investors own 18.86% of the company’s stock.

KT Stock Up 1.8%

Shares of NYSE:KT opened at $20.13 on Friday. The business has a 50-day moving average price of $18.80 and a 200 day moving average price of $17.65. The company has a current ratio of 1.04, a quick ratio of 0.98 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $10.38 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 0.37 and a beta of 0.66. KT Co. has a 12-month low of $13.11 and a 12-month high of $20.28.

Analysts Set New Price Targets

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

KT Company Profile

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.