Baird Financial Group Inc. Takes Position in SK Telecom Co., Ltd. $SKM

Key Points

• Baird Financial Group acquired 449,606 shares of SK Telecom worth approximately $14.46 million during the second quarter, representing about 0.12% ownership. Several other institutional investors also initiated or increased positions.
• SK Telecom reported quarterly earnings of $0.81 per share, beating the $0.59 consensus estimate, while revenue of $2.81 billion fell short of the $2.96 billion forecast.
• Analyst views remain mixed, with one Buy, three Hold, and three Sell ratings; MarketBeat data shows a consensus rating of “Reduce.”

Baird Financial Group Inc. bought a new position in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 449,606 shares of the Wireless communications provider's stock, valued at approximately $14,459,000. Baird Financial Group Inc. owned about 0.12% of SK Telecom at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SKM. Calamos Advisors LLC purchased a new position in shares of SK Telecom during the first quarter valued at approximately $9,065,000. ABN Amro Investment Solutions raised its position in SK Telecom by 136.8% in the 1st quarter. ABN Amro Investment Solutions now owns 568,343 shares of the Wireless communications provider's stock valued at $16,647,000 after buying an additional 328,300 shares during the last quarter. Calamos Wealth Management LLC bought a new position in SK Telecom during the 1st quarter valued at $3,511,000. Euro Pacific Asset Management LLC lifted its stake in SK Telecom by 80.6% during the 1st quarter. Euro Pacific Asset Management LLC now owns 223,557 shares of the Wireless communications provider's stock valued at $6,513,000 after acquiring an additional 99,741 shares in the last quarter. Finally, Wealth High Governance Capital Ltda purchased a new position in SK Telecom during the 1st quarter worth $7,740,000.

SK Telecom Price Performance

Shares of NYSE:SKM opened at $37.84 on Friday. The company has a market capitalization of $14.52 billion, a P/E ratio of 30.27 and a beta of 0.67. The company's 50-day moving average is $35.35 and its 200 day moving average is $34.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 1.18. SK Telecom Co., Ltd. has a fifty-two week low of $19.66 and a fifty-two week high of $47.18.

SK Telecom (NYSE:SKM - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The Wireless communications provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.59 by $0.22. The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.96 billion. SK Telecom had a net margin of 4.23% and a return on equity of 5.59%. On average, equities research analysts forecast that SK Telecom Co., Ltd. will post 2.21 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings upgraded shares of SK Telecom from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, August 13th. Zacks Research cut shares of SK Telecom from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, August 27th. Wall Street Zen raised shares of SK Telecom from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Finally, JPMorgan Chase & Co. upgraded shares of SK Telecom from a "neutral" rating to an "overweight" rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce".

About SK Telecom

SK Telecom Co, Ltd. is a South Korean telecommunications company that provides mobile communications, broadband internet, and media services. Its offerings include wireless voice and data plans, 5G connectivity, fixed-line broadband, internet protocol television, and related digital services for consumers and businesses.

The company also develops enterprise technology solutions in areas such as artificial intelligence, cloud computing, data centers, cybersecurity, and connected devices.

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