KT Corporation (NYSE:KT) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Separately, Zacks Investment Research downgraded KT Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 15th.

Shares of KT Corporation (NYSE KT) traded down 3.57% during midday trading on Thursday, reaching $16.50. The company had a trading volume of 851,496 shares. KT Corporation has a 52 week low of $13.43 and a 52 week high of $17.24. The company’s 50 day moving average price is $16.33 and its 200-day moving average price is $15.72. The company has a market capitalization of $8.08 billion, a P/E ratio of 12.77 and a beta of 0.45.

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Several hedge funds have recently made changes to their positions in KT. Acadian Asset Management LLC boosted its stake in shares of KT Corporation by 39.8% in the first quarter. Acadian Asset Management LLC now owns 7,190,629 shares of the technology company’s stock worth $121,017,000 after buying an additional 2,048,551 shares during the period. Karp Capital Management Corp purchased a new stake in shares of KT Corporation during the first quarter worth about $26,462,000. Wellington Management Group LLP boosted its stake in shares of KT Corporation by 34.2% in the first quarter. Wellington Management Group LLP now owns 4,448,219 shares of the technology company’s stock worth $74,864,000 after buying an additional 1,133,811 shares during the period. Kiltearn Partners LLP boosted its stake in shares of KT Corporation by 8.4% in the first quarter. Kiltearn Partners LLP now owns 8,956,746 shares of the technology company’s stock worth $150,742,000 after buying an additional 695,672 shares during the period. Finally, UBS Group AG boosted its stake in shares of KT Corporation by 533.6% in the first quarter. UBS Group AG now owns 430,648 shares of the technology company’s stock worth $7,248,000 after buying an additional 362,683 shares during the period. 23.45% of the stock is owned by hedge funds and other institutional investors.

About KT Corporation

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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