Bleakley Financial Group LLC Cuts Stake in KT Co. (NYSE:KT)

Bleakley Financial Group LLC lowered its stake in shares of KT Co. (NYSE:KT) by 5.9% in the fourth quarter, Holdings Channel reports. The firm owned 26,522 shares of the technology company’s stock after selling 1,649 shares during the period. Bleakley Financial Group LLC’s holdings in KT were worth $412,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Sanctuary Advisors LLC increased its stake in shares of KT by 18.8% during the third quarter. Sanctuary Advisors LLC now owns 49,578 shares of the technology company’s stock worth $823,000 after purchasing an additional 7,858 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in KT during the 3rd quarter valued at about $691,000. JPMorgan Chase & Co. grew its stake in KT by 74.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 107,294 shares of the technology company’s stock valued at $1,650,000 after acquiring an additional 45,941 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in KT by 44.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,608,115 shares of the technology company’s stock valued at $55,493,000 after acquiring an additional 1,101,669 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in KT during the 3rd quarter valued at about $779,000. Hedge funds and other institutional investors own 18.86% of the company’s stock.

KT Stock Up 2.1 %

Shares of NYSE KT opened at $17.04 on Tuesday. The company has a 50-day moving average of $16.51 and a 200 day moving average of $15.69. KT Co. has a 12-month low of $12.10 and a 12-month high of $18.45. 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 stock has a market cap of $8.79 billion, a PE ratio of 9.57, a P/E/G ratio of 0.35 and a beta of 0.95.

KT (NYSE:KT) last posted its quarterly earnings results on Tuesday, November 26th. The technology company reported $0.54 earnings per share for the quarter. KT had a net margin of 4.42% and a return on equity of 6.20%. As a group, sell-side analysts predict that KT Co. will post 0.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of KT from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st.

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.