Zacks Investment Research Lowers SK Telecom (SKM) to Sell

SK Telecom (NYSE:SKM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday, 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. “

NYSE SKM opened at $23.82 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $15.14 billion, a price-to-earnings ratio of 6.51, a price-to-earnings-growth ratio of 0.79 and a beta of 0.34. SK Telecom has a 12-month low of $22.66 and a 12-month high of $28.56.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Gravity Wealth Inc. acquired a new stake in SK Telecom in the first quarter valued at approximately $89,000. Spectrum Asset Management Inc. NB CA acquired a new stake in SK Telecom in the first quarter valued at approximately $1,301,000. Landsberg Bennett & Dubbaneh LLC lifted its stake in SK Telecom by 65.5% in the first quarter. Landsberg Bennett & Dubbaneh LLC now owns 35,328 shares of the Wireless communications provider’s stock valued at $864,000 after acquiring an additional 13,984 shares during the last quarter. Manning & Napier Group LLC lifted its stake in SK Telecom by 4.6% in the first quarter. Manning & Napier Group LLC now owns 100,052 shares of the Wireless communications provider’s stock valued at $2,450,000 after acquiring an additional 4,365 shares during the last quarter. Finally, We Are One Seven LLC lifted its stake in SK Telecom by 78.3% in the first quarter. We Are One Seven LLC now owns 11,904 shares of the Wireless communications provider’s stock valued at $291,000 after acquiring an additional 5,227 shares during the last quarter. Hedge funds and other institutional investors own 10.21% of the company’s stock.

About SK Telecom

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

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