Bessemer Group Inc. Purchases 31,327 Shares of KT Corporation $KT

Bessemer Group Inc. lifted its position in shares of KT Corporation (NYSE:KT) by 166.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 50,093 shares of the technology company’s stock after purchasing an additional 31,327 shares during the quarter. Bessemer Group Inc.’s holdings in KT were worth $1,074,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in KT. Millennium Management LLC grew its position in 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 acquiring an additional 518,322 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of KT by 107.9% during the 1st quarter. Jane Street Group LLC now owns 242,212 shares of the technology company’s stock valued at $4,290,000 after buying an additional 125,702 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of KT by 39.8% in 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 during the last quarter. Public Employees Retirement System of Ohio bought a new stake in KT during the 3rd quarter valued at about $1,190,000. Finally, Captrust Financial Advisors bought a new stake in shares of KT in the 4th quarter worth $1,047,000. 18.86% of the stock is currently owned by hedge funds and other institutional investors.

KT Price Performance

KT opened at $18.25 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 8.08 and a beta of 0.55. The business’s fifty day simple moving average is $18.13 and its 200-day simple moving average is $20.35. KT Corporation has a 12-month low of $17.13 and a 12-month high of $24.58.

Analyst Upgrades and Downgrades

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