14,572 Shares in SK Telecom Co., Ltd. $SKM Bought by Kathmere Capital Management LLC

Key Points

• Kathmere Capital Management LLC acquired a new position in SK Telecom, purchasing 14,572 shares valued at approximately $340,000 in the second quarter.
• SK Telecom reported an EPS of $0.16 for the last quarter, missing estimates by $0.20, while its revenue was $3.12 billion, slightly below the expected $3.14 billion.
• Goldman Sachs downgraded SK Telecom from a "neutral" to a "sell" rating, with a consensus rating of "Hold" among analysts.

Kathmere Capital Management LLC bought a new position in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,572 shares of the Wireless communications provider's stock, valued at approximately $340,000.

A number of other hedge funds have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. raised its stake in SK Telecom by 2.7% during the first quarter. Robeco Institutional Asset Management B.V. now owns 3,018,570 shares of the Wireless communications provider's stock worth $64,175,000 after buying an additional 80,042 shares during the last quarter. Citigroup Inc. raised its stake in SK Telecom by 55.5% during the first quarter. Citigroup Inc. now owns 1,202,830 shares of the Wireless communications provider's stock worth $25,572,000 after buying an additional 429,434 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in SK Telecom by 1.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,062,667 shares of the Wireless communications provider's stock worth $22,518,000 after buying an additional 17,718 shares during the last quarter. Great Lakes Advisors LLC raised its stake in SK Telecom by 543.6% during the first quarter. Great Lakes Advisors LLC now owns 593,312 shares of the Wireless communications provider's stock worth $12,614,000 after buying an additional 501,125 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in SK Telecom by 113.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 428,723 shares of the Wireless communications provider's stock worth $9,115,000 after buying an additional 227,792 shares during the last quarter.

SK Telecom Stock Performance

Shares of SKM stock opened at $21.58 on Monday. The firm has a market capitalization of $8.50 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 10.99 and a beta of 0.58. The firm has a fifty day simple moving average of $22.07 and a two-hundred day simple moving average of $21.82. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.62. SK Telecom Co., Ltd. has a 12 month low of $19.84 and a 12 month high of $24.37.

SK Telecom (NYSE:SKM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.20). The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.14 billion. SK Telecom had a net margin of 5.92% and a return on equity of 8.92%. Analysts forecast that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group downgraded shares of SK Telecom from a "neutral" rating to a "sell" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, SK Telecom presently has a consensus rating of "Hold".

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.

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