Pinpoint Asset Management Ltd Invests $798,000 in KT Co. (NYSE:KT)

Pinpoint Asset Management Ltd purchased a new position in shares of KT Co. (NYSE:KT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 51,420 shares of the technology company's stock, valued at approximately $798,000.

Several other hedge funds have also made changes to their positions in the business. Atlas Capital Advisors Inc. lifted its holdings in shares of KT by 31.1% during the 4th quarter. Atlas Capital Advisors Inc. now owns 19,338 shares of the technology company's stock worth $300,000 after acquiring an additional 4,588 shares during the period. National Bank of Canada FI increased its position in KT by 8.2% during the fourth quarter. National Bank of Canada FI now owns 535,181 shares of the technology company's stock worth $8,306,000 after purchasing an additional 40,341 shares during the last quarter. Wellington Management Group LLP raised its stake 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 worth $153,913,000 after purchasing an additional 7,901,522 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of KT by 3.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 621,606 shares of the technology company's stock valued at $9,647,000 after buying an additional 21,222 shares during the period. Finally, Intrust Bank NA acquired a new stake in shares of KT during the 4th quarter worth $186,000. Institutional investors and hedge funds own 18.86% of the company's stock.

KT Stock Down 1.3 %

KT stock traded down $0.23 during trading on Monday, reaching $17.10. 1,283,044 shares of the company's stock were exchanged, compared to its average volume of 1,083,177. KT Co. has a 52-week low of $12.10 and a 52-week high of $18.74. The firm has a market cap of $8.82 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 0.37 and a beta of 0.83. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.98 and a current ratio of 1.04. The company's 50-day moving average is $17.55 and its two-hundred day moving average is $16.53.

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Analyst Upgrades and Downgrades

KT has been the subject of a number of research reports. The Goldman Sachs Group raised KT from a "neutral" rating to a "buy" rating in a research report on Monday, March 3rd. UBS Group began coverage on KT in a report on Wednesday, February 19th. They set a "buy" rating for the company. Finally, StockNews.com lowered shares of KT from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 20th.

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.