StockNews.com Downgrades SK Telecom (NYSE:SKM) to Buy

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

Separately, Nomura restated a “reduce” rating on shares of SK Telecom in a research report on Monday, February 5th.

SK Telecom Trading Up 0.7 %

Shares of NYSE SKM opened at $20.80 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.61. SK Telecom has a 12-month low of $18.52 and a 12-month high of $22.71. The company has a 50-day moving average of $21.31 and a 200 day moving average of $21.26.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SKM. Ramirez Asset Management Inc. acquired a new position in SK Telecom in the third quarter valued at approximately $8,165,000. Meritage Portfolio Management acquired a new position in shares of SK Telecom in the 1st quarter valued at $2,691,000. Envestnet Asset Management Inc. grew its holdings in shares of SK Telecom by 26.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 304,426 shares of the Wireless communications provider’s stock worth $6,533,000 after purchasing an additional 63,913 shares during the period. DGS Capital Management LLC increased its position in shares of SK Telecom by 63.6% during the 1st quarter. DGS Capital Management LLC now owns 155,930 shares of the Wireless communications provider’s stock worth $3,362,000 after purchasing an additional 60,591 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of SK Telecom by 15.3% during the 4th quarter. LSV Asset Management now owns 415,831 shares of the Wireless communications provider’s stock worth $8,899,000 after purchasing an additional 55,270 shares during the last quarter.

SK Telecom Company Profile

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.