SK Telecom (NYSE:SKM) Stock Rating Lowered by StockNews.com

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

SK Telecom Stock Down 2.9 %

Shares of NYSE:SKM opened at $22.24 on Friday. The company has a market cap of $9.82 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 2.18 and a beta of 0.77. The firm has a 50 day simple moving average of $23.34 and a 200 day simple moving average of $22.12. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.95 and a current ratio of 0.98. SK Telecom has a 52 week low of $19.88 and a 52 week high of $24.58.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Promethos Capital LLC acquired a new position in shares of SK Telecom in the 1st quarter worth approximately $5,875,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of SK Telecom in the third quarter worth about $4,227,000. Teachers Retirement System of The State of Kentucky bought a new position in SK Telecom in the first quarter valued at approximately $3,364,000. Acadian Asset Management LLC lifted its position in SK Telecom by 79.6% in the 1st quarter. Acadian Asset Management LLC now owns 281,508 shares of the Wireless communications provider’s stock valued at $6,068,000 after acquiring an additional 124,739 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of SK Telecom by 4.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,009 shares of the Wireless communications provider’s stock worth $55,979,000 after buying an additional 98,323 shares during the period.

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.