Zacks Investment Research upgraded shares of KT (NYSE:KT) from a strong sell rating to a hold rating in a research note published on Wednesday, April 11th.
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 brokerages have also recently weighed in on KT. TheStreet cut shares of KT from a b- rating to a c rating in a research note on Tuesday, February 6th. Credit Suisse Group cut shares of KT from an outperform rating to a neutral rating in a research note on Tuesday, February 6th. Nomura cut shares of KT from a buy rating to a neutral rating in a research note on Tuesday, February 6th. CLSA lowered shares of KT from an outperform rating to an underperform rating in a report on Wednesday, January 24th. Finally, Morgan Stanley lowered shares of KT from an equal weight rating to an underweight rating in a report on Thursday, January 11th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $18.00.
Several hedge funds have recently bought and sold shares of KT. ETRADE Capital Management LLC purchased a new position in KT during the fourth quarter worth $190,000. Landscape Capital Management L.L.C. purchased a new position in KT during the fourth quarter worth $218,000. Zeke Capital Advisors LLC purchased a new position in KT during the fourth quarter worth $268,000. Citadel Advisors LLC boosted its stake in KT by 27.3% during the fourth quarter. Citadel Advisors LLC now owns 25,704 shares of the technology company’s stock worth $401,000 after buying an additional 5,516 shares during the period. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in KT during the fourth quarter worth $428,000. 26.48% of the stock is owned by hedge funds and other institutional investors.
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KT Corporation provides telecommunications services in Korea. The company offers fixed-line telephone services, including local, domestic long-distance, and international long-distance fixed-line and voice over Internet protocol telephone services, as well as interconnection services; Internet phone services; broadband Internet access and other Internet-related services, including Internet protocol television (IPTV) services; and data communication services, including leased line and dedicated broadband Internet connection services to institutional customers.
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