KT Co. (KT) Receives Average Recommendation of “Hold” from Brokerages
Shares of KT Co. (NYSE:KT) have been given an average rating of “Hold” by the eight research firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company.
Several brokerages have weighed in on KT. Nomura cut KT from a “neutral” rating to a “reduce” rating in a report on Monday. Zacks Investment Research raised KT from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 11th. TheStreet cut KT from a “b-” rating to a “c” rating in a report on Tuesday, February 6th. Credit Suisse Group cut KT from an “outperform” rating to a “neutral” rating in a report on Tuesday, February 6th. Finally, CLSA cut KT from an “outperform” rating to an “underperform” rating in a report on Wednesday, January 24th.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC raised its holdings in KT by 27.3% in the 4th quarter. Citadel Advisors LLC now owns 25,704 shares of the technology company’s stock valued at $401,000 after acquiring an additional 5,516 shares in the last quarter. Wetherby Asset Management Inc. raised its holdings in shares of KT by 12.7% during the 4th quarter. Wetherby Asset Management Inc. now owns 58,478 shares of the technology company’s stock worth $913,000 after buying an additional 6,569 shares in the last quarter. ETRADE Capital Management LLC acquired a new position in shares of KT during the 4th quarter worth $190,000. Landscape Capital Management L.L.C. acquired a new position in shares of KT during the 4th quarter worth $218,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of KT by 26.5% during the 4th quarter. Bank of New York Mellon Corp now owns 79,521 shares of the technology company’s stock worth $1,241,000 after buying an additional 16,671 shares in the last quarter. 26.48% of the stock is owned by hedge funds and other institutional investors.
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KT Corporation provides telecommunications services in Korea. The company offers fixed-line telephone services, including local, domestic long-distance, and international long-distance fixed-line and voice over Internet protocol telephone services, as well as interconnection services; Internet phone services; broadband Internet access and other Internet-related services, including Internet protocol television (IPTV) services; and data communication services, including leased line and dedicated broadband Internet connection services to institutional customers.
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