Cetera Investment Advisers Acquires New Holdings in SK Telecom Co., Ltd. $SKM

Key Points

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Cetera Investment Advisers bought a new position in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 19,418 shares of the Wireless communications provider's stock, valued at approximately $413,000.

A number of other hedge funds have also modified their holdings of SKM. Robeco Institutional Asset Management B.V. boosted its holdings in SK Telecom by 2.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 3,018,570 shares of the Wireless communications provider's stock valued at $64,175,000 after purchasing an additional 80,042 shares during the period. Allspring Global Investments Holdings LLC lifted its position in SK Telecom by 1.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,062,667 shares of the Wireless communications provider's stock worth $22,518,000 after acquiring an additional 17,718 shares during the period. BNP Paribas Financial Markets acquired a new position in SK Telecom during the 4th quarter worth approximately $10,712,000. Boston Common Asset Management LLC increased its position in SK Telecom by 2.1% during the 1st quarter. Boston Common Asset Management LLC now owns 220,211 shares of the Wireless communications provider's stock worth $4,682,000 after purchasing an additional 4,454 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its position in SK Telecom by 24.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 173,997 shares of the Wireless communications provider's stock worth $3,661,000 after purchasing an additional 34,668 shares during the period.

SK Telecom Trading Up 1.0%

Shares of SKM stock traded up $0.2150 on Friday, reaching $22.2550. 143,815 shares of the stock were exchanged, compared to its average volume of 380,265. The stock has a market cap of $8.77 billion, a P/E ratio of 11.41, a price-to-earnings-growth ratio of 9.12 and a beta of 0.63. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average of $22.49 and a two-hundred day moving average of $21.82. SK Telecom Co., Ltd. has a 1-year low of $19.84 and a 1-year high of $24.58.

SK Telecom (NYSE:SKM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.20). The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.14 billion. SK Telecom had a net margin of 5.92% and a return on equity of 8.89%. On average, research analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current year.

Analyst Upgrades and Downgrades

SKM has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut SK Telecom from an "overweight" rating to a "neutral" rating in a research report on Monday, May 12th. Wall Street Zen lowered SK Telecom from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. New Street Research raised SK Telecom to a "hold" rating in a research note on Monday, May 19th. Citigroup lowered SK Telecom from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group lowered SK Telecom from a "neutral" rating to a "sell" rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

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.