KT (NYSE:KT) Downgraded by StockNews.com to Buy

StockNews.com cut shares of KT (NYSE:KTGet Rating) from a strong-buy rating to a buy rating in a report released on Saturday.

Separately, The Goldman Sachs Group raised KT from a neutral rating to a buy rating in a research note on Monday, May 30th.

KT Stock Up 1.1 %

NYSE:KT opened at $13.38 on Friday. KT has a 1 year low of $12.33 and a 1 year high of $15.30. The stock has a 50-day moving average price of $14.06 and a two-hundred day moving average price of $14.09. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 5.33, a PEG ratio of 0.69 and a beta of 0.71. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 0.43.

Hedge Funds Weigh In On KT

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its position in KT by 1,246.0% during the 2nd quarter. Lazard Asset Management LLC now owns 1,904,748 shares of the technology company’s stock worth $26,590,000 after acquiring an additional 1,763,236 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in KT in the second quarter valued at $9,396,000. Sei Investments Co. increased its stake in KT by 51.2% in the 2nd quarter. Sei Investments Co. now owns 1,961,977 shares of the technology company’s stock valued at $27,389,000 after buying an additional 664,582 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in KT during the 2nd quarter worth about $8,791,000. Finally, Citadel Advisors LLC boosted its stake in shares of KT by 461.4% during the 2nd quarter. Citadel Advisors LLC now owns 765,523 shares of the technology company’s stock worth $10,687,000 after buying an additional 629,157 shares during the last quarter. 21.97% of the stock is owned by institutional investors and hedge funds.

About KT

(Get Rating)

KT Corporation provides integrated telecommunications and platform services in Korea and internationally. The company offers fixed-line telephone services, including local, domestic long-distance, international long-distance, and voice over Internet protocol telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services; and data communication services, such as fixed-line and leased line services, as well as broadband Internet connection services.

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