D. E. Shaw & Co. Inc. Acquires 34,668 Shares of SK Telecom Co., Ltd. (NYSE:SKM)

D. E. Shaw & Co. Inc. boosted its stake in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 24.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 173,997 shares of the Wireless communications provider's stock after acquiring an additional 34,668 shares during the period. D. E. Shaw & Co. Inc.'s holdings in SK Telecom were worth $3,661,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKM. JPMorgan Chase & Co. increased its stake in shares of SK Telecom by 2,337.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,748 shares of the Wireless communications provider's stock worth $422,000 after purchasing an additional 17,020 shares during the last quarter. Ritholtz Wealth Management grew its holdings in SK Telecom by 13.9% during the fourth quarter. Ritholtz Wealth Management now owns 54,838 shares of the Wireless communications provider's stock valued at $1,154,000 after purchasing an additional 6,674 shares during the period. Blue Trust Inc. increased its position in SK Telecom by 51.2% in the fourth quarter. Blue Trust Inc. now owns 65,823 shares of the Wireless communications provider's stock worth $1,385,000 after buying an additional 22,281 shares during the last quarter. Mount Yale Investment Advisors LLC bought a new stake in shares of SK Telecom in the fourth quarter valued at $658,000. Finally, Matthews International Capital Management LLC raised its stake in shares of SK Telecom by 102.5% in the fourth quarter. Matthews International Capital Management LLC now owns 2,550 shares of the Wireless communications provider's stock valued at $54,000 after buying an additional 1,291 shares during the period.

SK Telecom Price Performance

Shares of SKM traded down $0.32 during midday trading on Thursday, hitting $20.36. 286,054 shares of the company traded hands, compared to its average volume of 287,536. SK Telecom Co., Ltd. has a one year low of $19.84 and a one year high of $24.58. The firm has a market cap of $8.02 billion, a P/E ratio of 8.31, a PEG ratio of 1.27 and a beta of 0.63. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.88. The stock has a 50-day moving average of $21.42 and a 200-day moving average of $21.77.

SK Telecom (NYSE:SKM - Get Free Report) last posted its earnings results on Monday, May 12th. The Wireless communications provider reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.04. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. As a group, sell-side analysts predict that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on SKM. UBS Group started coverage on SK Telecom in a report on Wednesday, February 19th. They issued a "buy" rating for the company. New Street Research upgraded shares of SK Telecom to a "hold" rating in a research note on Monday. Wall Street Zen cut shares of SK Telecom from a "buy" rating to a "hold" rating in a research note on Thursday. JPMorgan Chase & Co. lowered shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research note on Monday, May 12th. Finally, Citigroup downgraded SK Telecom from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold".

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.