Zacks Investment Research Downgrades KT Corporation (KT) to Hold
Zacks Investment Research lowered shares of KT Corporation (NYSE:KT) from a buy rating to a hold rating in a research report sent to investors on Friday morning.
According to Zacks, “KT Corporation provides telecommunication services. Its services include mobile telecommunications services, telephone services, fixed-line and VoIP telephone services. The Company also provides interconnection services to other telecommunications companies, broadband Internet access services and other Internet-related services. It also offers information technology and network services, including consulting, designing, building, and maintaining of systems and communication networks. KT Corporation, formerly known as Korea Telecom Corp., is headquartered in Sungnam, South Korea. “
KT has been the subject of a number of other research reports. BidaskClub raised KT Corporation from a strong sell rating to a sell rating in a report on Thursday, June 29th. Nomura raised KT Corporation from a neutral rating to a buy rating in a research note on Friday, July 28th.
Shares of KT Corporation (NYSE:KT) opened at 16.22 on Friday. The stock has a 50 day moving average of $17.35 and a 200-day moving average of $16.61. KT Corporation has a 52 week low of $13.43 and a 52 week high of $18.82. The firm has a market capitalization of $7.95 billion, a PE ratio of 12.82 and a beta of 0.47.
A number of hedge funds have recently made changes to their positions in KT. Janney Montgomery Scott LLC lifted its stake in KT Corporation by 2.1% in the second quarter. Janney Montgomery Scott LLC now owns 10,378 shares of the technology company’s stock valued at $173,000 after buying an additional 213 shares during the period. Comerica Bank raised its position in shares of KT Corporation by 1.3% during the first quarter. Comerica Bank now owns 31,174 shares of the technology company’s stock worth $493,000 after purchasing an additional 388 shares during the period. World Asset Management Inc raised its position in shares of KT Corporation by 1.4% during the first quarter. World Asset Management Inc now owns 32,533 shares of the technology company’s stock worth $548,000 after purchasing an additional 456 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of KT Corporation by 2.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,893 shares of the technology company’s stock worth $840,000 after purchasing an additional 1,084 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of KT Corporation by 19.6% during the second quarter. Parallel Advisors LLC now owns 9,075 shares of the technology company’s stock worth $165,000 after purchasing an additional 1,489 shares during the period. Institutional investors and hedge funds own 24.10% of the company’s stock.
About KT Corporation
KT Corporation is a telecommunications service provider. The Company’s segments include the Customer/Marketing Group, the Finance Business Group and the Others Group. The Customer/Marketing Group segment is engaged in providing various telecommunication services to individual/home/corporate customers and the convergence business.
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