Zacks Investment Research cut shares of KT Corporation (NYSE:KT) from a buy rating to a hold rating in a report published on Friday.

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. “

Several other research analysts have also recently issued reports on KT. BidaskClub cut KT Corporation from a buy rating to a hold rating in a research report on Saturday, August 12th. Nomura raised shares of KT Corporation from a neutral rating to a buy rating in a research report on Friday, July 28th.

Shares of KT Corporation (NYSE KT) opened at 13.87 on Friday. The company has a market cap of $6.80 billion, a PE ratio of 10.79 and a beta of 0.43. KT Corporation has a 12-month low of $13.43 and a 12-month high of $18.82. The company has a 50 day moving average of $16.42 and a 200-day moving average of $16.54.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hexavest Inc. bought a new position in shares of KT Corporation in the second quarter worth about $112,000. Parallel Advisors LLC lifted its position in shares of KT Corporation by 775.0% during the 1st quarter. Parallel Advisors LLC now owns 7,586 shares of the technology company’s stock valued at $123,000 after buying an additional 6,719 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of KT Corporation during the 1st quarter valued at about $170,000. Janney Montgomery Scott LLC lifted its position in shares of KT Corporation by 2.1% during the 2nd 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 in the last quarter. Finally, Signaturefd LLC purchased a new position in shares of KT Corporation during the 1st quarter valued at about $205,000. Institutional investors and hedge funds own 24.11% 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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