KT (NYSE:KT) Raised to “Buy” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of KT (NYSE:KT) from a neutral rating to a buy rating in a research report released on Monday morning, MarketBeat.com reports.

A number of other brokerages have also recently weighed in on KT. UBS Group started coverage on KT in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. StockNews.com cut KT from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 20th.

KT Price Performance

KT stock opened at $17.14 on Monday. KT has a 52-week low of $12.10 and a 52-week high of $18.45. The stock’s fifty day simple moving average is $16.75 and its 200-day simple moving average is $16.06. The company has a quick ratio of 0.98, a current ratio of 1.04 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 9.63, a price-to-earnings-growth ratio of 0.37 and a beta of 0.95.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KT. R Squared Ltd purchased a new position in KT in the fourth quarter valued at about $36,000. Principal Securities Inc. raised its position in KT by 70.6% in the fourth quarter. Principal Securities Inc. now owns 3,730 shares of the technology company’s stock valued at $58,000 after purchasing an additional 1,544 shares during the period. Venturi Wealth Management LLC raised its position in KT by 3,915.8% in the third quarter. Venturi Wealth Management LLC now owns 4,578 shares of the technology company’s stock valued at $70,000 after purchasing an additional 4,464 shares during the period. GAMMA Investing LLC raised its position in KT by 80.7% in the fourth quarter. GAMMA Investing LLC now owns 6,497 shares of the technology company’s stock valued at $101,000 after purchasing an additional 2,902 shares during the period. Finally, Global Retirement Partners LLC raised its position in KT by 58.2% in the fourth quarter. Global Retirement Partners LLC now owns 7,253 shares of the technology company’s stock valued at $113,000 after purchasing an additional 2,667 shares during the period. Institutional investors and hedge funds own 18.86% of the company’s stock.

About KT

KT Corporation provides integrated telecommunications and platform services in Korea and internationally. The company offers mobile voice and data telecommunications services based on 5G, 4G LTE and 3G W-CDMA technology; 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.