KT (NYSE:KT) Lowered to Buy Rating by StockNews.com

KT (NYSE:KT) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

KT Price Performance

KT stock traded up $0.19 during midday trading on Wednesday, reaching $16.39. 1,452,920 shares of the company were exchanged, compared to its average volume of 1,180,947. The firm’s 50-day simple moving average is $16.20 and its 200-day simple moving average is $15.23. KT has a 1 year low of $12.10 and a 1 year high of $18.45. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 9.21, a P/E/G ratio of 1.19 and a beta of 0.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.98 and a current ratio of 1.04.

Hedge Funds Weigh In On KT

A number of institutional investors have recently modified their holdings of KT. Venturi Wealth Management LLC grew its stake in KT by 3,915.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 4,578 shares of the technology company’s stock worth $70,000 after acquiring an additional 4,464 shares during the period. GAMMA Investing LLC grew its position in shares of 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. MML Investors Services LLC purchased a new stake in shares of KT in the third quarter valued at $160,000. Private Advisor Group LLC acquired a new position in KT in the third quarter valued at $164,000. Finally, Park Avenue Securities LLC purchased a new position in KT during the fourth quarter worth about $181,000. 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.