BNP Paribas Financial Markets Buys Shares of 509,104 SK Telecom Co., Ltd. (NYSE:SKM)

BNP Paribas Financial Markets purchased a new position in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 509,104 shares of the Wireless communications provider's stock, valued at approximately $10,712,000. BNP Paribas Financial Markets owned about 0.13% of SK Telecom at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its stake in SK Telecom by 24.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,938,528 shares of the Wireless communications provider's stock worth $61,827,000 after acquiring an additional 583,519 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of SK Telecom by 9.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,595,390 shares of the Wireless communications provider's stock valued at $33,567,000 after buying an additional 133,742 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of SK Telecom by 41.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 289,356 shares of the Wireless communications provider's stock valued at $6,088,000 after buying an additional 85,278 shares in the last quarter. Meritage Portfolio Management grew its stake in shares of SK Telecom by 24.5% in the fourth quarter. Meritage Portfolio Management now owns 222,170 shares of the Wireless communications provider's stock valued at $4,674,000 after buying an additional 43,778 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of SK Telecom by 13.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 200,931 shares of the Wireless communications provider's stock valued at $4,228,000 after buying an additional 23,091 shares in the last quarter.

Analyst Ratings Changes

SKM has been the subject of a number of recent research reports. UBS Group initiated coverage on SK Telecom in a research note on Wednesday, February 19th. They issued a "buy" rating for the company. The Goldman Sachs Group lowered SK Telecom from a "buy" rating to a "neutral" rating in a research report on Monday, March 3rd. StockNews.com downgraded shares of SK Telecom from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. downgraded shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research report on Monday. Finally, Citigroup downgraded shares of SK Telecom from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

SK Telecom Stock Up 0.9%

Shares of SKM stock traded up $0.19 during mid-day trading on Friday, reaching $20.51. 246,975 shares of the company were exchanged, compared to its average volume of 284,637. SK Telecom Co., Ltd. has a fifty-two week low of $19.84 and a fifty-two week high of $24.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.91. The company has a market capitalization of $8.08 billion, a P/E ratio of 8.38, a P/E/G ratio of 1.27 and a beta of 0.63. The business's 50 day simple moving average is $21.48 and its 200 day simple moving average is $21.83.

SK Telecom (NYSE:SKM - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The Wireless communications provider reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.04. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. Research analysts predict that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

SK Telecom 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.