Oasis Management Fully Exits KT Corporation, Cashing Out $8.31 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
0mins
Source: Fool
- Complete Exit: Oasis Management disclosed in a November 13 SEC filing that it has fully sold its 400,000 shares of KT Corporation, cashing out approximately $8.31 million, indicating a cautious stance on the company's future performance.
- Position Change: This transaction results in a net change of $8.31 million for Oasis Management's KT position, reflecting a strategy of reallocating capital within a concentrated portfolio, even as KT outperformed the broader market over the past year.
- Financial Performance: KT's third-quarter revenue rose 7.1% year-over-year to approximately KRW 7.1 trillion, with operating profit climbing 16%, indicating strong growth momentum in telecommunications, cloud computing, and real estate development.
- Shifting Market Appeal: Despite improvements in KT's execution, Oasis Management's focus has shifted towards higher-volatility or higher-upside infrastructure and data assets, potentially diminishing KT's appeal as a stable, dividend-oriented telecom stock.
Analyst Views on KT
Wall Street analysts forecast KT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for KT is 22.38 USD with a low forecast of 22.38 USD and a high forecast of 22.38 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 19.050
Low
22.38
Averages
22.38
High
22.38
Current: 19.050
Low
22.38
Averages
22.38
High
22.38
No data
About KT
KT Corp is a Korea-based company that mainly provides telecommunication services. The Company operates its business through four segments. The Information and Communications Technologies segment is engaged in providing telecommunication services to individual, home, corporate customers and the convergence business. The Finance segment is engaged in providing financial services, such as credit card. The Satellite Broadcasting segment provides satellite television services. The Other segment includes security services, satellite service, information technology and network services, as well as global business services, which provide global network services to multinational or domestic corporate customers and telecommunications companies. The Company's principal services include mobile voice and data telecommunications services; fixed-line services; credit card processing and other financial services; as well as other services. The Company is engaged in the software platforms business.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
