SK Telecom (NYSE:SKM) Downgraded to “Buy” Rating by StockNews.com

SK Telecom (NYSE:SKM) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

SK Telecom Stock Down 2.9 %

SK Telecom stock opened at $22.24 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.95 and a current ratio of 0.98. The firm has a market cap of $9.82 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 2.18 and a beta of 0.77. The firm has a 50 day moving average price of $23.34 and a two-hundred day moving average price of $22.12. SK Telecom has a 52-week low of $19.88 and a 52-week high of $24.58.

Institutional Trading of SK Telecom

Several hedge funds have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its stake in shares of SK Telecom by 4.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,009 shares of the Wireless communications provider’s stock valued at $55,979,000 after purchasing an additional 98,323 shares during the period. Acadian Asset Management LLC increased its position in SK Telecom by 8.2% during the 2nd quarter. Acadian Asset Management LLC now owns 304,541 shares of the Wireless communications provider’s stock valued at $6,373,000 after buying an additional 23,033 shares in the last quarter. Promethos Capital LLC bought a new position in SK Telecom in the 1st quarter valued at approximately $5,875,000. Silvercrest Asset Management Group LLC lifted its holdings in shares of SK Telecom by 0.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 260,416 shares of the Wireless communications provider’s stock valued at $5,615,000 after buying an additional 930 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of SK Telecom by 4.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 181,002 shares of the Wireless communications provider’s stock worth $3,843,000 after acquiring an additional 8,424 shares during the last quarter.

About SK Telecom

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.