Zacks Investment Research downgraded shares of KT (NYSE:KT) from a hold rating to a sell rating in a research note published on Tuesday 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 topic of a number of other research reports. Morgan Stanley raised shares of KT from an underweight rating to an equal weight rating in a research note on Tuesday, August 7th. HSBC cut shares of KT from a buy rating to a hold rating in a research note on Friday, October 26th. Finally, ValuEngine raised shares of KT from a sell rating to a hold rating in a research note on Tuesday, September 18th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $16.00.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. increased its stake in KT by 1.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 247,287 shares of the technology company’s stock valued at $3,284,000 after acquiring an additional 3,942 shares during the period. Regal Investment Advisors LLC increased its stake in KT by 48.0% in the third quarter. Regal Investment Advisors LLC now owns 15,464 shares of the technology company’s stock valued at $230,000 after acquiring an additional 5,014 shares during the period. Assetmark Inc. increased its stake in KT by 1.4% in the second quarter. Assetmark Inc. now owns 392,382 shares of the technology company’s stock valued at $5,211,000 after acquiring an additional 5,248 shares during the period. Signaturefd LLC increased its stake in KT by 50.6% in the second quarter. Signaturefd LLC now owns 26,237 shares of the technology company’s stock valued at $348,000 after acquiring an additional 8,810 shares during the period. Finally, Zeke Capital Advisors LLC increased its stake in KT by 24.3% in the second quarter. Zeke Capital Advisors LLC now owns 45,364 shares of the technology company’s stock valued at $602,000 after acquiring an additional 8,859 shares during the period. 29.83% of the stock is currently owned by institutional investors and hedge funds.
KT Corporation provides telecommunications services in Korea and internationally. The company offers local, domestic long-distance, and international long-distance fixed-line and voice over Internet protocol fixed-line telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services, including IPTV services; and data communication services, such as leased line and broadband Internet connection services to institutional customers.
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