SK Telecom Co., Ltd. (NYSE:SKM) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other brokerages have also weighed in on SKM. Goldman Sachs Group, Inc. (The) upgraded shares of SK Telecom Co. from a “neutral” rating to a “buy” rating in a report on Friday, July 21st. Zacks Investment Research lowered shares of SK Telecom Co. from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Credit Suisse Group lowered shares of SK Telecom Co. from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 30th. Finally, Citigroup Inc. restated a “neutral” rating on shares of SK Telecom Co. in a report on Monday, April 24th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $32.00.

SK Telecom Co. (NYSE SKM) opened at 25.99 on Friday. The company has a market cap of $16.76 billion, a P/E ratio of 9.35 and a beta of 0.35. SK Telecom Co. has a 1-year low of $20.44 and a 1-year high of $28.13. The stock’s 50 day moving average is $26.32 and its 200 day moving average is $24.37.

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Several large investors have recently made changes to their positions in SKM. Macquarie Group Ltd. raised its stake in shares of SK Telecom Co. by 10.1% in the first quarter. Macquarie Group Ltd. now owns 7,264,500 shares of the Wireless communications provider’s stock worth $182,928,000 after buying an additional 666,014 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of SK Telecom Co. by 1.5% in the first quarter. Nordea Investment Management AB now owns 3,936,389 shares of the Wireless communications provider’s stock worth $99,118,000 after buying an additional 58,109 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of SK Telecom Co. by 8.3% in the second quarter. JPMorgan Chase & Co. now owns 3,524,444 shares of the Wireless communications provider’s stock worth $90,471,000 after buying an additional 271,434 shares during the last quarter. Bank of America Corp DE raised its stake in shares of SK Telecom Co. by 22.3% in the first quarter. Bank of America Corp DE now owns 2,647,702 shares of the Wireless communications provider’s stock worth $66,670,000 after buying an additional 483,598 shares during the last quarter. Finally, Oldfield Partners LLP raised its stake in shares of SK Telecom Co. by 7.2% in the second quarter. Oldfield Partners LLP now owns 2,566,174 shares of the Wireless communications provider’s stock worth $65,874,000 after buying an additional 172,627 shares during the last quarter. Hedge funds and other institutional investors own 11.87% of the company’s stock.

About SK Telecom Co.

SK Telecom Co, Ltd. provides wireless telecommunications in Korea. The Company is engaged in the commercial development and implementation of wireless and fixed-line technologies and services, as well as develop its platforms, including Internet of things (IoT) solutions, lifestyle enhancement and advanced media.

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