KT Corporation (NYSE:KT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “KT Corporation provides telecommunication services. Its services include mobile telecommunications services, telephone services, fixed-line and VoIP telephone services. The Company also provides interconnection services to other telecommunications companies, broadband Internet access services and other Internet-related services. It also offers information technology and network services, including consulting, designing, building, and maintaining of systems and communication networks. KT Corporation, formerly known as Korea Telecom Corp., is headquartered in Sungnam, South Korea. “

Several other research analysts also recently commented on the company. BidaskClub downgraded KT Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Nomura raised KT Corporation from a “neutral” rating to a “buy” rating in a research note on Friday, July 28th.

KT Corporation (KT) traded down 1.11% during midday trading on Thursday, hitting $15.14. 1,018,745 shares of the stock traded hands. The stock has a market capitalization of $7.91 billion, a PE ratio of 3.17 and a beta of 0.47. The firm’s 50 day moving average is $17.14 and its 200-day moving average is $16.60. KT Corporation has a 12-month low of $13.43 and a 12-month high of $18.82.

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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC raised its stake in KT Corporation by 2.1% during the second quarter. Janney Montgomery Scott LLC now owns 10,378 shares of the technology company’s stock worth $173,000 after acquiring an additional 213 shares in the last quarter. Comerica Bank raised its stake in KT Corporation by 1.3% during the first quarter. Comerica Bank now owns 31,174 shares of the technology company’s stock worth $493,000 after acquiring an additional 388 shares in the last quarter. World Asset Management Inc raised its stake in KT Corporation by 1.4% during the first quarter. World Asset Management Inc now owns 32,533 shares of the technology company’s stock worth $548,000 after acquiring an additional 456 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in KT Corporation by 2.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,893 shares of the technology company’s stock worth $840,000 after acquiring an additional 1,084 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in KT Corporation by 19.6% during the second quarter. Parallel Advisors LLC now owns 9,075 shares of the technology company’s stock worth $165,000 after acquiring an additional 1,489 shares in the last quarter. 24.10% of the stock is owned by hedge funds and other institutional investors.

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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