Ballentine Partners LLC Acquires New Holdings in SK Telecom Co., Ltd. $SKM

Key Points

• Ballentine Partners LLC has acquired a new stake in SK Telecom Co., Ltd. worth approximately $472,000, purchasing 20,217 shares in the second quarter.
• Analyst ratings for SK Telecom have shifted, with Goldman Sachs downgrading the stock from "neutral" to "sell" while the consensus rating remains a "Hold."
• SK Telecom reported $0.16 EPS for the last quarter, missing estimates by $0.20, with revenue at $3.12 billion, falling short of the expected $3.14 billion.

Ballentine Partners LLC bought a new stake in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,217 shares of the Wireless communications provider's stock, valued at approximately $472,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of SK Telecom in the 1st quarter valued at $37,000. Farther Finance Advisors LLC lifted its holdings in 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 acquiring an additional 1,585 shares in the last quarter. SVB Wealth LLC acquired a new position in SK Telecom in the first quarter valued at about $42,000. Brooklyn Investment Group increased its holdings in shares of SK Telecom by 854.4% in the first quarter. Brooklyn Investment Group now owns 2,300 shares of the Wireless communications provider's stock worth $49,000 after acquiring an additional 2,059 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of SK Telecom by 55.0% during the first quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider's stock worth $53,000 after purchasing an additional 884 shares during the period.

Analyst Ratings Changes

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

SK Telecom Trading Down 0.6%

NYSE SKM opened at $21.58 on Friday. SK Telecom Co., Ltd. has a 52 week low of $19.84 and a 52 week high of $24.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.01 and a current ratio of 1.03. The stock's 50 day moving average price is $22.07 and its two-hundred day moving average price is $21.81. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 10.99 and a beta of 0.58.

SK Telecom (NYSE:SKM - Get Free Report) last announced its quarterly earnings data 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). SK Telecom had a return on equity of 8.92% and a net margin of 5.92%.The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.14 billion. As a group, analysts anticipate that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

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.

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