Russell Investments Group Ltd. Sells 377,658 Shares of KT Co. (NYSE:KT)

Russell Investments Group Ltd. cut its stake in KT Co. (NYSE:KT - Free Report) by 12.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,605,429 shares of the technology company's stock after selling 377,658 shares during the quarter. Russell Investments Group Ltd. owned 0.51% of KT worth $40,450,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Envestnet Asset Management Inc. raised its stake in shares of KT by 26.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 564,515 shares of the technology company's stock worth $8,761,000 after purchasing an additional 118,502 shares during the period. Pinpoint Asset Management Ltd purchased a new stake in KT in the 4th quarter worth approximately $798,000. Atlas Capital Advisors Inc. boosted its stake in KT by 31.1% during the fourth quarter. Atlas Capital Advisors Inc. now owns 19,338 shares of the technology company's stock valued at $300,000 after buying an additional 4,588 shares during the period. National Bank of Canada FI boosted its position in shares of KT by 8.2% during the 4th quarter. National Bank of Canada FI now owns 535,181 shares of the technology company's stock valued at $8,306,000 after acquiring an additional 40,341 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in KT by 392.0% during the fourth quarter. Wellington Management Group LLP now owns 9,917,081 shares of the technology company's stock valued at $153,913,000 after purchasing an additional 7,901,522 shares during the last quarter. 18.86% of the stock is owned by hedge funds and other institutional investors.

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KT Stock Up 1.7 %

KT stock traded up $0.29 on Friday, reaching $17.31. 2,061,465 shares of the company traded hands, compared to its average volume of 1,086,292. The company has a market cap of $8.92 billion, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 0.37 and a beta of 0.83. The firm has a fifty day simple moving average of $17.49 and a 200-day simple moving average of $16.60. KT Co. has a one year low of $12.10 and a one year high of $18.74. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.04 and a quick ratio of 0.98.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. StockNews.com cut shares of KT from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 20th. UBS Group initiated coverage on shares of KT in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. Finally, The Goldman Sachs Group raised KT from a "neutral" rating to a "buy" rating in a research report on Monday, March 3rd.

KT 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.