KT Co. (NYSE:KT) Sees Significant Increase in Short Interest

KT Co. (NYSE:KT) was the target of a large growth in short interest in October. As of October 15th, there was short interest totalling 2,410,000 shares, a growth of 13.7% from the September 30th total of 2,120,000 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average trading volume of 633,600 shares, the days-to-cover ratio is presently 3.8 days.

Institutional Trading of KT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in shares of KT by 9.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,061,368 shares of the technology company’s stock valued at $141,061,000 after buying an additional 829,682 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in KT by 44.0% in 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 during the period. Lazard Asset Management LLC lifted its holdings in KT by 2.4% during the 1st quarter. Lazard Asset Management LLC now owns 3,556,193 shares of the technology company’s stock valued at $49,857,000 after purchasing an additional 84,760 shares during the last quarter. Russell Investments Group Ltd. boosted its position in KT by 0.5% during the first quarter. Russell Investments Group Ltd. now owns 3,212,410 shares of the technology company’s stock worth $45,038,000 after purchasing an additional 16,362 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of KT by 2.3% in the second quarter. Sei Investments Co. now owns 1,519,693 shares of the technology company’s stock valued at $20,774,000 after purchasing an additional 34,164 shares during the last quarter. 18.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on KT shares. StockNews.com raised KT from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 23rd. New Street Research raised shares of KT to a “strong-buy” rating in a research note on Monday, September 9th. Finally, The Goldman Sachs Group lowered shares of KT from a “buy” rating to a “neutral” rating in a research report on Thursday, July 11th.

KT Stock Down 0.5 %

Shares of NYSE:KT traded down $0.08 during midday trading on Thursday, reaching $15.73. The company had a trading volume of 504,827 shares, compared to its average volume of 739,560. The business’s 50 day moving average price is $15.30 and its 200 day moving average price is $14.07. KT has a 1-year low of $12.07 and a 1-year high of $15.99. The company has a quick ratio of 1.01, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The stock has a market cap of $8.11 billion, a PE ratio of 9.53, a P/E/G ratio of 0.75 and a beta of 0.90.

KT (NYSE:KT) last posted its quarterly earnings results on Monday, August 26th. The technology company reported $0.58 earnings per share for the quarter. The firm had revenue of $4.77 billion for the quarter. KT had a return on equity of 5.60% and a net margin of 4.07%. Research analysts forecast that KT will post 1.86 EPS for the current fiscal year.

About KT

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.