KT (NYSE:KT) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of KT (NYSE:KT) from a hold rating to a strong sell rating in a research note published on Tuesday, Zacks.com reports.

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. “

Shares of KT opened at $10.53 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 1.11. KT has a one year low of $10.31 and a one year high of $13.73. The company has a 50-day simple moving average of $11.00 and a two-hundred day simple moving average of $11.27. The firm has a market capitalization of $5.15 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 0.83 and a beta of 0.40.

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Trust Advisors LP increased its stake in shares of KT by 955.2% during the third quarter. First Trust Advisors LP now owns 989,859 shares of the technology company’s stock valued at $11,195,000 after purchasing an additional 896,047 shares in the last quarter. Barclays PLC increased its stake in shares of KT by 213.1% during the third quarter. Barclays PLC now owns 399,388 shares of the technology company’s stock valued at $4,517,000 after purchasing an additional 271,831 shares in the last quarter. Dean Capital Investments Management LLC increased its stake in shares of KT by 27.1% during the third quarter. Dean Capital Investments Management LLC now owns 24,254 shares of the technology company’s stock valued at $274,000 after purchasing an additional 5,166 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of KT by 67.8% during the third quarter. SG Americas Securities LLC now owns 63,928 shares of the technology company’s stock valued at $723,000 after purchasing an additional 25,837 shares in the last quarter. Finally, Atlas Capital Advisors LLC increased its stake in shares of KT by 101.5% during the fourth quarter. Atlas Capital Advisors LLC now owns 9,720 shares of the technology company’s stock valued at $113,000 after purchasing an additional 4,897 shares in the last quarter. 32.87% of the stock is owned by institutional investors and hedge funds.

KT Company Profile

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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