KT (NYSE:KT) Shares Down 4.1% – Should You Sell?

KT Corporation (NYSE:KT) shares fell 4.1% on Monday . The stock traded as low as $20.63 and last traded at $20.7420. 516,466 shares were traded during mid-day trading, a decline of 73% from the average session volume of 1,940,188 shares. The stock had previously closed at $21.64.

Wall Street Analyst Weigh In

KT has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of KT from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings raised shares of KT from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, March 17th. Finally, Zacks Research raised shares of KT from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 8th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

KT Stock Performance

The firm has a market cap of $10.16 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 0.19 and a beta of 0.62. The business has a 50 day simple moving average of $21.80 and a two-hundred day simple moving average of $19.93. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.42.

KT (NYSE:KT) last posted its quarterly earnings results on Tuesday, February 10th. The technology company reported $0.63 EPS for the quarter. The firm had revenue of $4.74 billion for the quarter. KT had a net margin of 3.41% and a return on equity of 5.20%. As a group, equities research analysts forecast that KT Corporation will post 0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On KT

A number of institutional investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings in shares of KT by 1.1% in the first quarter. Royal Bank of Canada now owns 102,808 shares of the technology company’s stock valued at $1,820,000 after purchasing an additional 1,078 shares during the period. Millennium Management LLC raised 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 valued at $9,401,000 after purchasing an additional 518,322 shares in the last quarter. NewEdge Advisors LLC raised its position in KT by 20,894.8% during the 1st quarter. NewEdge Advisors LLC now owns 20,365 shares of the technology company’s stock valued at $361,000 after purchasing an additional 20,268 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of KT by 107.9% in the 1st quarter. Jane Street Group LLC now owns 242,212 shares of the technology company’s stock worth $4,290,000 after buying an additional 125,702 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in shares of KT by 1.2% in the 2nd quarter. Lazard Asset Management LLC now owns 3,250,513 shares of the technology company’s stock worth $67,545,000 after buying an additional 37,744 shares during the period. 18.86% of the stock is owned by hedge funds and other institutional investors.

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.