KT Corporation (NYSE:KT) shares dropped 5.5% on Tuesday . The company traded as low as $15.22 and last traded at $15.32. Approximately 1,589,476 shares traded hands during mid-day trading, an increase of 111% from the average daily volume of 754,922 shares. The stock had previously closed at $16.22.

KT has been the subject of a number of research analyst reports. Zacks Investment Research cut KT Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. BidaskClub cut KT Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 14th. Finally, Nomura upgraded KT Corporation from a “neutral” rating to a “buy” rating in a research report on Friday, July 28th.

The company’s 50 day moving average price is $17.26 and its 200-day moving average price is $16.62. The company has a market cap of $7.48 billion, a price-to-earnings ratio of 12.07 and a beta of 0.47.

Institutional investors have recently made changes to their positions in the company. Hexavest Inc. acquired a new position in KT Corporation during the second quarter valued at $112,000. Parallel Advisors LLC raised its position in KT Corporation by 775.0% during the first quarter. Parallel Advisors LLC now owns 7,586 shares of the technology company’s stock valued at $123,000 after buying an additional 6,719 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new position in KT Corporation during the first quarter valued at $170,000. Janney Montgomery Scott LLC acquired a new position in KT Corporation during the first quarter valued at $171,000. Finally, Signaturefd LLC acquired a new position in KT Corporation during the first quarter valued at $205,000. 24.10% of the stock is currently owned by institutional investors.

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KT Corporation Company Profile

KT Corporation is a telecommunications service provider. The Company’s segments include the Customer/Marketing Group, the Finance Business Group and the Others Group. The Customer/Marketing Group segment is engaged in providing various telecommunication services to individual/home/corporate customers and the convergence business.

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