Allspring Global Investments Holdings LLC reduced its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 7.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 987,967 shares of the Wireless communications provider's stock after selling 74,700 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.25% of SK Telecom worth $23,395,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of SKM. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of SK Telecom during the first quarter worth about $37,000. Farther Finance Advisors LLC grew its holdings in shares of SK Telecom by 1,780.9% during the second quarter. Farther Finance Advisors LLC now owns 1,674 shares of the Wireless communications provider's stock worth $39,000 after buying an additional 1,585 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of SK Telecom during the first quarter worth about $42,000. Brooklyn Investment Group grew its holdings in shares of SK Telecom by 854.4% during the first quarter. Brooklyn Investment Group now owns 2,300 shares of the Wireless communications provider's stock worth $49,000 after buying an additional 2,059 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of SK Telecom during the first quarter worth about $85,000.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of SK Telecom in a report on Wednesday, October 8th. The Goldman Sachs Group downgraded shares of SK Telecom from a "neutral" rating to a "sell" rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold".
View Our Latest Stock Report on SK Telecom
SK Telecom Price Performance
SK Telecom stock opened at $21.62 on Friday. SK Telecom Co., Ltd. has a 1 year low of $19.84 and a 1 year high of $24.34. The firm has a 50 day moving average price of $21.83 and a 200 day moving average price of $21.82. The company has a market cap of $8.52 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 10.81 and a beta of 0.58. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.01 and a current ratio of 1.03.
SK Telecom (NYSE:SKM - Get Free Report) last released its earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.20). SK Telecom had a net margin of 5.92% and a return on equity of 8.92%. The company had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.14 billion. Sell-side analysts predict that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.
SK Telecom Profile
(
Free Report)
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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