Boston Partners Has $2.88 Million Stake in 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 lifted its holdings in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 176.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,932 shares of the Wireless communications provider's stock after purchasing an additional 86,070 shares during the period. Boston Partners' holdings in SK Telecom were worth $2,875,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in shares of SK Telecom by 87.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 157,789 shares of the Wireless communications provider's stock valued at $3,355,000 after purchasing an additional 73,444 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of SK Telecom in the 4th quarter valued at $309,000. Allspring Global Investments Holdings LLC lifted its stake in shares of SK Telecom by 1.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,062,667 shares of the Wireless communications provider's stock valued at $22,518,000 after purchasing an additional 17,718 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of SK Telecom in the 1st quarter valued at $302,000. Finally, GAMMA Investing LLC lifted its stake in shares of SK Telecom by 1,961.9% in the 1st quarter. GAMMA Investing LLC now owns 62,249 shares of the Wireless communications provider's stock valued at $1,323,000 after purchasing an additional 59,230 shares during the last quarter.

SK Telecom Price Performance

Shares of SKM stock traded up $0.0650 during trading hours on Wednesday, reaching $22.3850. 393,049 shares of the company were exchanged, compared to its average volume of 382,405. SK Telecom Co., Ltd. has a fifty-two week low of $19.84 and a fifty-two week high of $24.58. The stock's fifty day moving average is $22.48 and its two-hundred day moving average is $21.82. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 9.12 and a beta of 0.63. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.88 and a quick ratio of 0.86.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on SKM shares. Wall Street Zen downgraded shares of SK Telecom from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. New Street Research raised shares of SK Telecom to a "hold" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. cut shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research note on Monday, May 12th. The Goldman Sachs Group lowered shares of SK Telecom from a "neutral" rating to a "sell" rating in a research report on Monday, July 7th. Finally, Citigroup lowered shares of SK Telecom from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. One 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 stock. According to data from MarketBeat.com, SK Telecom has a consensus rating of "Hold".

SK Telecom 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.