GAMMA Investing LLC Raises Stock Holdings in SK Telecom Co., Ltd. (NYSE:SKM)

GAMMA Investing LLC grew its stake in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 1,961.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,249 shares of the Wireless communications provider's stock after purchasing an additional 59,230 shares during the quarter. GAMMA Investing LLC's holdings in SK Telecom were worth $1,323,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Securities Inc. increased its position in shares of SK Telecom by 147.7% during the fourth quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider's stock valued at $25,000 after buying an additional 721 shares during the period. Quadrant Capital Group LLC boosted its position in SK Telecom by 15.2% during the 4th quarter. Quadrant Capital Group LLC now owns 5,797 shares of the Wireless communications provider's stock valued at $122,000 after acquiring an additional 764 shares in the last quarter. Global Retirement Partners LLC boosted its position in SK Telecom by 130.8% during the 4th quarter. Global Retirement Partners LLC now owns 7,526 shares of the Wireless communications provider's stock valued at $158,000 after acquiring an additional 4,265 shares in the last quarter. Assetmark Inc. grew its holdings in shares of SK Telecom by 180.1% during the 4th quarter. Assetmark Inc. now owns 8,260 shares of the Wireless communications provider's stock worth $174,000 after acquiring an additional 5,311 shares during the period. Finally, Gitterman Wealth Management LLC bought a new position in shares of SK Telecom in the 4th quarter worth approximately $231,000.

SK Telecom Stock Up 0.4%

NYSE:SKM traded up $0.08 during trading hours on Thursday, reaching $22.11. 640,464 shares of the company traded hands, compared to its average volume of 301,063. 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 business's 50-day moving average price is $21.41 and its two-hundred day moving average price is $21.55. SK Telecom Co., Ltd. has a 1 year low of $19.84 and a 1 year high of $24.58. The stock has a market capitalization of $8.71 billion, a P/E ratio of 9.14, a P/E/G ratio of 2.31 and a beta of 0.60.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on SKM. Citigroup lowered SK Telecom from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. UBS Group started coverage on SK Telecom in a research report on Wednesday, February 19th. They set a "buy" rating for the company. New Street Research raised shares of SK Telecom to a "hold" rating in a research report on Monday, May 19th. 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, Wall Street Zen cut shares of SK Telecom from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, SK Telecom has a consensus rating of "Hold".

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.