NINE MASTS CAPITAL Ltd Invests $3.95 Million in KT Corporation $KT

NINE MASTS CAPITAL Ltd acquired a new position in shares of KT Corporation (NYSE:KT) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 228,574 shares of the technology company’s stock, valued at approximately $3,950,000. KT makes up approximately 0.4% of NINE MASTS CAPITAL Ltd’s holdings, making the stock its 28th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of KT. Triumph Capital Management bought a new stake in KT in the 3rd quarter valued at approximately $47,000. Quantbot Technologies LP acquired a new stake in shares of KT in the third quarter valued at approximately $81,000. Westpac Banking Corp acquired a new stake in shares of KT in the fourth quarter valued at approximately $157,000. EverSource Wealth Advisors LLC lifted its position in shares of KT by 41.0% in the first quarter. EverSource Wealth Advisors LLC now owns 9,122 shares of the technology company’s stock worth $196,000 after purchasing an additional 2,653 shares in the last quarter. Finally, Arax Advisory Partners lifted its position in shares of KT by 512.7% in the fourth quarter. Arax Advisory Partners now owns 10,918 shares of the technology company’s stock worth $207,000 after purchasing an additional 9,136 shares in the last quarter. Institutional investors and hedge funds own 18.86% of the company’s stock.

KT Stock Down 0.1%

NYSE:KT opened at $19.61 on Monday. The firm has a market capitalization of $9.46 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 4.79 and a beta of 0.54. KT Corporation has a twelve month low of $17.13 and a twelve month high of $24.58. The stock’s 50 day moving average price is $18.28 and its two-hundred day moving average price is $20.13. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 0.37.

Analyst Ratings Changes

KT has been the subject of several recent research reports. Bank of America cut shares of KT from a “buy” rating to a “neutral” rating and set a $23.08 target price for the company. in a report on Thursday, May 14th. Weiss Ratings cut shares of KT from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Finally, Zacks Research upgraded shares of KT from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, KT currently has a consensus rating of “Hold” and an average target price of $23.08.

KT Profile

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.