SK Telecom (NYSE:SKM) Upgraded to Hold by ValuEngine

ValuEngine upgraded shares of SK Telecom (NYSE:SKM) from a sell rating to a hold rating in a report published on Tuesday morning, ValuEngine reports.

A number of other equities analysts have also commented on SKM. Morgan Stanley raised SK Telecom from an equal weight rating to an overweight rating in a research note on Monday, August 26th. JPMorgan Chase & Co. raised shares of SK Telecom from a neutral rating to an overweight rating in a research report on Thursday, October 31st. Finally, Zacks Investment Research upgraded shares of SK Telecom from a hold rating to a strong-buy rating and set a $26.00 price target for the company in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $26.00.

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Shares of SKM stock traded up $0.09 on Tuesday, hitting $22.26. The company had a trading volume of 263,124 shares, compared to its average volume of 350,802. SK Telecom has a twelve month low of $21.22 and a twelve month high of $28.20. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.05. The firm has a market cap of $14.40 billion, a P/E ratio of 4.99 and a beta of 0.34. The stock’s 50-day moving average is $22.86 and its two-hundred day moving average is $22.99.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC bought a new stake in SK Telecom during the third quarter worth $512,000. Voloridge Investment Management LLC boosted its holdings in SK Telecom by 42.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 27,372 shares of the Wireless communications provider’s stock worth $608,000 after acquiring an additional 8,127 shares during the last quarter. Banco de Sabadell S.A boosted its holdings in SK Telecom by 209.9% during the 3rd quarter. Banco de Sabadell S.A now owns 17,762 shares of the Wireless communications provider’s stock worth $393,000 after acquiring an additional 12,031 shares during the last quarter. Barclays PLC grew its stake in shares of SK Telecom by 662,980.0% in the 3rd quarter. Barclays PLC now owns 33,154 shares of the Wireless communications provider’s stock worth $736,000 after acquiring an additional 33,149 shares in the last quarter. Finally, Penserra Capital Management LLC grew its stake in shares of SK Telecom by 25.0% in the 3rd quarter. Penserra Capital Management LLC now owns 27,461 shares of the Wireless communications provider’s stock worth $609,000 after acquiring an additional 5,493 shares in the last quarter. 9.94% of the stock is owned by institutional investors and hedge funds.

SK Telecom Company Profile

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. It operates in four segments: Cellular Services, Fixed-Line Telecommunication Services, E-Commerce Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission services; cellular global roaming services; interconnection services; Internet of Things solutions; and platform services, as well as sells smartphones and basic phones, tablets and other Internet access devices, and wearable devices.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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