Cerity Partners LLC Acquires New Position in SK Telecom Co., Ltd. (NYSE:SKM)

Key Points

• Cerity Partners LLC has acquired a new position in SK Telecom, purchasing 17,320 shares valued at approximately $368,000 during the first quarter.
• Analysts have downgraded SK Telecom's stock ratings, with the most recent being from Goldman Sachs, which moved the rating from "neutral" to "sell".
• SK Telecom reported a quarterly earnings per share of $0.65, surpassing estimates, and had a revenue of $3.18 billion for the quarter.

Cerity Partners LLC bought a new position in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,320 shares of the Wireless communications provider's stock, valued at approximately $368,000.

A number of other hedge funds also recently added to or reduced their stakes in SKM. BNP Paribas Financial Markets purchased a new stake in shares of SK Telecom during the 4th quarter worth approximately $10,712,000. Arrowstreet Capital Limited Partnership boosted its position in SK Telecom by 9.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,595,390 shares of the Wireless communications provider's stock worth $33,567,000 after purchasing an additional 133,742 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in SK Telecom in the fourth quarter valued at $1,879,000. O Shaughnessy Asset Management LLC increased its position in shares of SK Telecom by 41.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 289,356 shares of the Wireless communications provider's stock valued at $6,088,000 after buying an additional 85,278 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of SK Telecom by 2.7% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 3,018,570 shares of the Wireless communications provider's stock worth $64,175,000 after buying an additional 80,042 shares during the last quarter.

SK Telecom Trading Down 1.0%

Shares of SKM stock opened at $22.20 on Friday. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 10.81 and a beta of 0.64. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $21.96 and a 200 day moving average price of $21.70. SK Telecom Co., Ltd. has a twelve month low of $19.84 and a twelve month high of $24.58.

SK Telecom (NYSE:SKM - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The Wireless communications provider reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.04. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.12 billion. SK Telecom had a net margin of 7.31% and a return on equity of 10.98%. Research analysts forecast that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SKM shares. 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. Wall Street Zen downgraded shares of SK Telecom from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Citigroup cut shares of SK Telecom from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. New Street Research upgraded SK Telecom to a "hold" rating in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. cut SK Telecom from an "overweight" rating to a "neutral" rating in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, SK Telecom currently has an average 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.

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