Boston Partners Purchases 86,070 Shares of SK Telecom Co., Ltd. $SKM

Key Points

• Boston Partners significantly increased its stake in SK Telecom by 176.1% during the 1st quarter, owning 134,932 shares worth approximately $2.87 million by the end of the reporting period.
• Multiple hedge funds also boosted their holdings in SK Telecom, with Citigroup Inc. increasing theirs by 55.5%, now owning over 1.2 million shares worth around $25.57 million.
• Analyst ratings for SK Telecom have fluctuated, with reports indicating a downgrade to "hold" from several major financial institutions, resulting in an average rating of "Hold" for the stock.

Boston Partners increased its position in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 176.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,932 shares of the Wireless communications provider's stock after acquiring an additional 86,070 shares during the period. Boston Partners' holdings in SK Telecom were worth $2,875,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of SK Telecom during the first quarter worth $37,000. Parallel Advisors LLC raised its holdings in SK Telecom by 55.0% during the first quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider's stock valued at $53,000 after buying an additional 884 shares in the last quarter. TD Asset Management Inc bought a new position in SK Telecom during the first quarter valued at about $212,000. Callan Family Office LLC bought a new position in SK Telecom during the first quarter valued at about $212,000. Finally, PDS Planning Inc bought a new position in SK Telecom during the first quarter valued at about $240,000.

Wall Street Analyst Weigh In

Several research firms have weighed in on SKM. JPMorgan Chase & Co. lowered SK Telecom from an "overweight" rating to a "neutral" rating in a report on Monday, May 12th. Citigroup lowered SK Telecom from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. Wall Street Zen lowered SK Telecom from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. New Street Research upgraded SK Telecom to a "hold" rating in a report on Monday, May 19th. Finally, The Goldman Sachs Group lowered SK Telecom from a "neutral" rating to a "sell" rating in a 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold".

SK Telecom Stock Performance

Shares of NYSE:SKM traded up $0.2950 during midday trading on Friday, hitting $22.3350. The company's stock had a trading volume of 69,118 shares, compared to its average volume of 379,809. The stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 9.12 and a beta of 0.63. The stock's 50 day simple moving average is $22.49 and its 200 day simple moving average is $21.82. SK Telecom Co., Ltd. has a fifty-two week low of $19.84 and a fifty-two week high of $24.58. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.86 and a current ratio of 0.88.

SK Telecom (NYSE:SKM - Get Free Report) last issued 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 business 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%. As a group, research analysts anticipate that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

SK Telecom Company 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.