DekaBank Deutsche Girozentrale boosted its holdings in shares of KT Corp (NYSE:KT) by 61.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 471,900 shares of the technology company’s stock after purchasing an additional 179,800 shares during the period. DekaBank Deutsche Girozentrale owned about 0.10% of KT worth $6,802,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in KT. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in KT during the 3rd quarter valued at $705,000. BlackRock Inc. raised its stake in KT by 39.8% during the 3rd quarter. BlackRock Inc. now owns 4,928,999 shares of the technology company’s stock valued at $73,197,000 after buying an additional 1,403,146 shares during the last quarter. Alliancebernstein L.P. raised its stake in KT by 405.7% during the 3rd quarter. Alliancebernstein L.P. now owns 1,249,905 shares of the technology company’s stock valued at $18,561,000 after buying an additional 1,002,740 shares during the last quarter. SG Americas Securities LLC purchased a new stake in KT during the 3rd quarter valued at $222,000. Finally, Maple Brown Abbott Ltd raised its stake in KT by 18.6% during the 3rd quarter. Maple Brown Abbott Ltd now owns 1,185,901 shares of the technology company’s stock valued at $17,611,000 after buying an additional 185,576 shares during the last quarter. Institutional investors own 30.67% of the company’s stock.
A number of brokerages have weighed in on KT. Zacks Investment Research upgraded shares of KT from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 4th. ValuEngine upgraded shares of KT from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Morgan Stanley upgraded shares of KT from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, August 7th. Finally, HSBC lowered shares of KT from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the stock. KT has a consensus rating of “Hold” and an average price target of $16.00.
Shares of KT opened at $14.64 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.18 and a quick ratio of 1.11. KT Corp has a 1-year low of $12.55 and a 1-year high of $16.12.
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KT Corporation provides telecommunications services in Korea and internationally. The company offers local, domestic long-distance, and international long-distance fixed-line and voice over Internet protocol fixed-line telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services, including IPTV services; and data communication services, such as leased line and broadband Internet connection services to institutional customers.
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