KT Corporation (NYSE:KT) Upgraded by Nomura to Buy

Nomura upgraded shares of KT Corporation (NYSE:KT) from a neutral rating to a buy rating in a research note released on Friday.

A number of other analysts have also recently commented on the company. BidaskClub upgraded KT Corporation from a hold rating to a buy rating in a research report on Tuesday. Zacks Investment Research cut KT Corporation from a buy rating to a hold rating in a research report on Thursday, June 15th.

KT Corporation (NYSE KT) traded up 0.49% on Friday, hitting $18.60. The stock had a trading volume of 1,171,083 shares. The company has a market capitalization of $9.11 billion, a price-to-earnings ratio of 14.15 and a beta of 0.45. The firm has a 50-day moving average of $16.85 and a 200 day moving average of $16.16. KT Corporation has a 52 week low of $13.43 and a 52 week high of $18.82.

TRADEMARK VIOLATION WARNING: “[[title]]” was originally reported by [[site]] and is the property of of [[site]]. If you are reading this news story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this news story can be read at [[permalink]].

Hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank raised its position in KT Corporation by 12.2% in the fourth quarter. Comerica Bank now owns 30,786 shares of the technology company’s stock worth $432,000 after buying an additional 3,348 shares during the period. USA Financial Portformulas Corp acquired a new position in KT Corporation during the fourth quarter worth $483,000. Fox Run Management L.L.C. acquired a new position in KT Corporation during the first quarter worth $399,000. Ferguson Wellman Capital Management Inc. raised its position in KT Corporation by 3.4% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 466,913 shares of the technology company’s stock worth $7,858,000 after buying an additional 15,220 shares during the period. Finally, Acadian Asset Management LLC raised its position in 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. 23.76% of the stock is owned by institutional investors and hedge funds.

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.