KT (NYSE:KT – Get Free Report) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.
Several other research analysts have also recently issued reports on the company. Bank of America cut KT from a “buy” rating to a “neutral” rating and set a $23.08 price objective on the stock. in a research note on Thursday, May 14th. Wall Street Zen cut KT from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Finally, Weiss Ratings lowered KT from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.08.
Check Out Our Latest Research Report on KT
KT Stock Performance
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC boosted its position in KT by 1.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 33,164 shares of the technology company’s stock valued at $711,000 after buying an additional 470 shares during the period. Royal Bank of Canada boosted its holdings in KT by 1.1% in the first quarter. Royal Bank of Canada now owns 102,808 shares of the technology company’s stock valued at $1,820,000 after purchasing an additional 1,078 shares during the period. Farther Finance Advisors LLC grew its stake in KT by 10.1% during the 4th quarter. Farther Finance Advisors LLC now owns 12,826 shares of the technology company’s stock worth $243,000 after purchasing an additional 1,172 shares in the last quarter. Triumph Capital Management acquired a new position in KT during the 3rd quarter worth $47,000. Finally, DGS Capital Management LLC increased its holdings in KT by 1.4% during the 4th quarter. DGS Capital Management LLC now owns 175,178 shares of the technology company’s stock worth $3,323,000 after purchasing an additional 2,400 shares during the period. 18.86% of the stock is currently owned by institutional investors and hedge funds.
About KT
KT Corporation, listed on the New York Stock Exchange as an American depositary receipt under the symbol KT, is a major telecommunications and information technology provider headquartered in Seongnam, South Korea. The company’s services span traditional fixed-line voice communication, high-speed broadband internet access and mobile cellular networks. Leveraging an extensive fiber-optic and wireless infrastructure, KT delivers voice, data and multimedia solutions to both consumer and enterprise customers.
KT has been at the forefront of technological innovation in its home market, launching South Korea’s first commercial 5G network and expanding its offerings to include Internet of Things (IoT) platforms, cloud computing services and cybersecurity solutions.
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