KT Corp (KT) Lowered to Hold at BidaskClub
KT Corp (NYSE:KT) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of KT Corp from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Wednesday, April 19th. Nomura raised shares of KT Corp from a “neutral” rating to a “buy” rating in a research note on Friday, July 28th.
KT Corp (KT) opened at 16.93 on Friday. The firm has a 50-day moving average of $17.32 and a 200-day moving average of $16.41. KT Corp has a one year low of $13.43 and a one year high of $18.82. The company has a market cap of $8.29 billion, a PE ratio of 13.14 and a beta of 0.46.
A number of hedge funds have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC boosted its stake in KT Corp by 15.1% in the second quarter. Parametric Portfolio Associates LLC now owns 1,963,357 shares of the technology company’s stock worth $32,670,000 after buying an additional 258,022 shares during the last quarter. Ativo Capital Management LLC purchased a new position in KT Corp during the second quarter worth approximately $1,958,000. New York State Common Retirement Fund purchased a new position in KT Corp during the second quarter worth approximately $5,722,000. Standard Life Investments LTD raised its position in KT Corp by 26.9% in the second quarter. Standard Life Investments LTD now owns 7,241,821 shares of the technology company’s stock worth $120,612,000 after buying an additional 1,533,615 shares during the period. Finally, NorthCoast Asset Management LLC raised its position in KT Corp by 2.5% in the second quarter. NorthCoast Asset Management LLC now owns 175,111 shares of the technology company’s stock worth $2,914,000 after buying an additional 4,287 shares during the period. 23.69% of the stock is currently owned by institutional investors and hedge funds.
About KT Corp
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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