SK Telecom Co.,Ltd (NYSE:SKM) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of SK Telecom Co.,Ltd (NYSE:SKM) from a buy rating to a hold rating in a research report report published on Tuesday morning, Zacks.com reports.

According to Zacks, “SK Telecom Co. is the world’s first commercial CDMA digital cellular service. As of September 30, 1997, they have provided the highest quality service for more than 4 million cellular customers which includes 2.3 million digital cellular customers, and 7.1 million paging customers. “

Shares of NYSE:SKM opened at $33.05 on Tuesday. The firm has a market cap of $24.02 billion, a PE ratio of 17.39 and a beta of 1.00. The stock’s fifty day simple moving average is $30.57. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.05 and a current ratio of 1.07. SK Telecom Co.,Ltd has a 1-year low of $18.05 and a 1-year high of $33.26.

A number of large investors have recently modified their holdings of the stock. Millennium Management LLC acquired a new stake in SK Telecom Co.,Ltd during the 1st quarter worth $888,000. Canada Pension Plan Investment Board acquired a new stake in SK Telecom Co.,Ltd during the 1st quarter worth $5,773,000. D. E. Shaw & Co. Inc. boosted its stake in SK Telecom Co.,Ltd by 82.1% during the 1st quarter. D. E. Shaw & Co. Inc. now owns 39,179 shares of the Wireless communications provider’s stock worth $1,067,000 after purchasing an additional 17,668 shares during the period. BSW Wealth Partners acquired a new stake in SK Telecom Co.,Ltd during the 1st quarter worth $283,000. Finally, Citadel Advisors LLC boosted its stake in SK Telecom Co.,Ltd by 14.7% during the 1st quarter. Citadel Advisors LLC now owns 48,427 shares of the Wireless communications provider’s stock worth $1,319,000 after purchasing an additional 6,193 shares during the period. Hedge funds and other institutional investors own 7.63% of the company’s stock.

SK Telecom Co.,Ltd Company Profile

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea and internationally. The Cellular Services segment offers wireless voice and data transmission, cellular global roaming, interconnection, Internet of Things, and platform services, as well as sells smartphones, basic phones, tablets and other Internet access devices, and wearable devices.

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