Euro Pacific Asset Management LLC Acquires 49,653 Shares of SK Telecom Co., Ltd. $SKM

Key Points

• Euro Pacific Asset Management LLC increased its holdings in SK Telecom by 69.1%, acquiring an additional 49,653 shares, raising its total to 121,537 shares, valued at approximately $2.66 million.
• Several institutional investors made notable adjustments to their stakes in SK Telecom, with GAMMA Investing LLC boosting its investment by a striking 1,961.9%.
• SK Telecom's stock has received mixed analyst reviews, with Goldman Sachs downgrading its rating from "neutral" to "sell," while it currently holds an average rating of "hold" from research analysts.

Euro Pacific Asset Management LLC grew its holdings in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 69.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,537 shares of the Wireless communications provider's stock after acquiring an additional 49,653 shares during the period. Euro Pacific Asset Management LLC's holdings in SK Telecom were worth $2,663,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in SK Telecom by 46.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,587 shares of the Wireless communications provider's stock worth $265,000 after purchasing an additional 3,980 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of SK Telecom by 1,961.9% during the 1st quarter. GAMMA Investing LLC now owns 62,249 shares of the Wireless communications provider's stock worth $1,323,000 after acquiring an additional 59,230 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of SK Telecom by 55.0% during the 1st quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider's stock valued at $53,000 after acquiring an additional 884 shares during the last quarter. Rhumbline Advisers raised its stake in shares of SK Telecom by 8.6% in the 1st quarter. Rhumbline Advisers now owns 94,631 shares of the Wireless communications provider's stock valued at $2,012,000 after acquiring an additional 7,485 shares in the last quarter. Finally, CHICAGO TRUST Co NA lifted its holdings in SK Telecom by 24.4% in the 1st quarter. CHICAGO TRUST Co NA now owns 13,033 shares of the Wireless communications provider's stock worth $277,000 after purchasing an additional 2,559 shares during the last quarter.

Analyst Ratings Changes

SKM has been the topic of several analyst reports. The Goldman Sachs Group downgraded SK Telecom from a "neutral" rating to a "sell" rating in a report on Monday, July 7th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of SK Telecom in a research report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold".

SK Telecom Stock Down 0.3%

Shares of SKM opened at $21.68 on Monday. 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 company has a 50-day simple moving average of $21.99 and a 200-day simple moving average of $21.82. SK Telecom Co., Ltd. has a 52 week low of $19.84 and a 52 week high of $24.34. The firm has a market capitalization of $8.54 billion, a P/E ratio of 11.12, a P/E/G ratio of 11.04 and a beta of 0.58.

SK Telecom (NYSE:SKM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.20). SK Telecom had a return on equity of 8.92% and a net margin of 5.92%.The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.14 billion. On average, equities research analysts expect that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

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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