Renaissance Technologies LLC Sells 209,959 Shares of KT Co. (NYSE:KT)

Renaissance Technologies LLC reduced its position in shares of KT Co. (NYSE:KT) by 70.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,693 shares of the technology company’s stock after selling 209,959 shares during the period. Renaissance Technologies LLC’s holdings in KT were worth $1,361,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in KT. Wellington Management Group LLP increased its position in KT by 392.0% in the 4th quarter. Wellington Management Group LLP now owns 9,917,081 shares of the technology company’s stock valued at $153,913,000 after acquiring an additional 7,901,522 shares during the period. North of South Capital LLP grew its stake in shares of KT by 2,407.3% in the fourth quarter. North of South Capital LLP now owns 4,217,653 shares of the technology company’s stock worth $65,458,000 after purchasing an additional 4,049,439 shares during the last quarter. Ninety One UK Ltd acquired a new stake in KT in the fourth quarter valued at $59,145,000. Robeco Institutional Asset Management B.V. raised its position in KT by 29.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,671,851 shares of the technology company’s stock worth $72,507,000 after purchasing an additional 1,063,736 shares during the last quarter. Finally, Boston Partners lifted its holdings in KT by 215.6% during the 4th quarter. Boston Partners now owns 1,247,881 shares of the technology company’s stock worth $19,380,000 after buying an additional 852,539 shares during the period. Institutional investors and hedge funds own 18.86% of the company’s stock.

KT Stock Performance

Shares of KT stock opened at $18.98 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.04 and a debt-to-equity ratio of 0.28. KT Co. has a 52 week low of $12.54 and a 52 week high of $19.11. The firm has a 50 day moving average of $17.74 and a 200-day moving average of $16.84. The company has a market cap of $9.79 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 0.37 and a beta of 0.83.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KT. StockNews.com downgraded KT from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 20th. The Goldman Sachs Group upgraded shares of KT from a “neutral” rating to a “buy” rating in a research report on Monday, March 3rd. Finally, UBS Group began coverage on shares of KT in a report on Wednesday, February 19th. They issued a “buy” rating on the stock.

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.