KT (NYSE:KT) Shares Gap Down - Here's What Happened

Shares of KT Co. (NYSE:KT - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $15.33, but opened at $14.81. KT shares last traded at $14.92, with a volume of 45,679 shares changing hands.

Analysts Set New Price Targets

KT has been the topic of a number of analyst reports. New Street Research raised shares of KT to a "strong-buy" rating in a report on Monday, September 9th. StockNews.com cut shares of KT from a "strong-buy" rating to a "buy" rating in a report on Friday, November 8th.

KT Price Performance

The firm's 50-day moving average is $15.46 and its 200-day moving average is $14.30. The company has a market capitalization of $7.86 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 1.13 and a beta of 0.90. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.28.

KT (NYSE:KT - Get Free Report) last announced its earnings results on Monday, August 26th. The technology company reported $0.58 earnings per share (EPS) for the quarter. KT had a net margin of 4.50% and a return on equity of 6.23%. The company had revenue of $4.77 billion during the quarter. Equities analysts predict that KT Co. will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On KT

Hedge funds and other institutional investors have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its stake in KT by 44.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 3,608,115 shares of the technology company's stock worth $55,493,000 after buying an additional 1,101,669 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in KT by 9.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,061,368 shares of the technology company's stock worth $141,061,000 after buying an additional 829,682 shares in the last quarter. Acadian Asset Management LLC raised its stake in KT by 245.7% in the second quarter. Acadian Asset Management LLC now owns 1,132,607 shares of the technology company's stock worth $15,476,000 after buying an additional 804,986 shares in the last quarter. Natixis Advisors LLC raised its stake in KT by 383.2% in the second quarter. Natixis Advisors LLC now owns 171,515 shares of the technology company's stock worth $2,345,000 after buying an additional 136,021 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in KT by 55.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 374,220 shares of the technology company's stock worth $5,247,000 after buying an additional 133,570 shares in the last quarter. 18.86% of the stock is owned by institutional investors.

About KT

KT Corporation provides integrated telecommunications and platform services in Korea and internationally. The company offers mobile voice and data telecommunications services based on 5G, 4G LTE and 3G W-CDMA technology; fixed-line telephone services, including local, domestic long-distance, international long-distance, and voice over Internet protocol telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services; and data communication services, such as fixed-line and leased line services, as well as broadband Internet connection services.