SK Telecom (NYSE:SKM) Downgraded by StockNews.com

StockNews.com downgraded shares of SK Telecom (NYSE:SKM) from a strong-buy rating to a buy rating in a research note issued to investors on Friday.

Separately, Nomura reaffirmed a reduce rating on shares of SK Telecom in a report on Monday, February 5th.

SK Telecom Trading Up 0.7 %

Shares of SKM stock traded up $0.15 during trading hours on Friday, hitting $20.80. 130,690 shares of the company’s stock traded hands, compared to its average volume of 273,553. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.94 and a quick ratio of 0.92. SK Telecom has a 12 month low of $18.52 and a 12 month high of $22.71. The stock’s 50 day simple moving average is $21.33 and its 200 day simple moving average is $21.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ramirez Asset Management Inc. bought a new position in SK Telecom during the third quarter worth $8,165,000. Meritage Portfolio Management bought a new position in shares of SK Telecom in the 1st quarter worth about $2,691,000. Envestnet Asset Management Inc. lifted its stake in shares of SK Telecom by 26.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 304,426 shares of the Wireless communications provider’s stock valued at $6,533,000 after purchasing an additional 63,913 shares during the period. DGS Capital Management LLC boosted 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 valued at $3,362,000 after purchasing an additional 60,591 shares in the last quarter. Finally, LSV Asset Management grew its stake in SK Telecom by 15.3% during the fourth 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 period.

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.