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

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

SK Telecom Stock Performance

NYSE:SKM opened at $22.22 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.98 and a quick ratio of 0.95. The firm has a market capitalization of $9.81 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 2.12 and a beta of 0.77. The company’s 50-day moving average is $23.34 and its two-hundred day moving average is $22.14. SK Telecom has a 1-year low of $19.88 and a 1-year high of $24.58.

Institutional Investors Weigh In On SK Telecom

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in shares of SK Telecom by 27.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,246 shares of the Wireless communications provider’s stock valued at $53,000 after acquiring an additional 488 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of SK Telecom by 104.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the Wireless communications provider’s stock valued at $55,000 after acquiring an additional 1,372 shares during the period. Assetmark Inc. raised its stake in shares of SK Telecom by 57.6% in the 3rd quarter. Assetmark Inc. now owns 2,949 shares of the Wireless communications provider’s stock valued at $70,000 after acquiring an additional 1,078 shares during the period. Advisors Preferred LLC purchased a new stake in shares of SK Telecom in the 1st quarter valued at approximately $112,000. Finally, Ariadne Wealth Management LP purchased a new stake in shares of SK Telecom in the 2nd quarter valued at approximately $127,000.

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.