GAMMA Investing LLC Increases Stake in SK Telecom Co., Ltd. (NYSE:SKM)

GAMMA Investing LLC lifted its holdings in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 1,961.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,249 shares of the Wireless communications provider's stock after buying 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.

A number of other institutional investors also recently modified their holdings of SKM. Rhumbline Advisers grew its stake in shares of SK Telecom by 30.8% during the 4th quarter. Rhumbline Advisers now owns 87,146 shares of the Wireless communications provider's stock worth $1,834,000 after acquiring an additional 20,506 shares in the last quarter. Jane Street Group LLC acquired a new stake in SK Telecom in the 4th quarter valued at $309,000. US Bancorp DE lifted its position in SK Telecom by 27.8% during the 4th quarter. US Bancorp DE now owns 93,295 shares of the Wireless communications provider's stock worth $1,963,000 after buying an additional 20,285 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of SK Telecom by 130.8% in 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. Finally, Capital Wealth Planning LLC increased its position in shares of SK Telecom by 55.6% in the fourth quarter. Capital Wealth Planning LLC now owns 93,417 shares of the Wireless communications provider's stock valued at $1,965,000 after acquiring an additional 33,392 shares during the last quarter.

SK Telecom Stock Down 1.4%

SKM stock traded down $0.32 during midday trading on Tuesday, reaching $22.05. 412,384 shares of the company's stock traded hands, compared to its average volume of 299,874. The company has a market cap of $8.68 billion, a price-to-earnings ratio of 9.24, a P/E/G ratio of 2.34 and a beta of 0.60. SK Telecom Co., Ltd. has a 52 week low of $19.84 and a 52 week high of $24.58. The firm's fifty day moving average price is $21.38 and its 200-day moving average price is $21.55. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.55.

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

Analysts Set New Price Targets

SKM has been the subject of several recent analyst reports. UBS Group began coverage on shares of SK Telecom in a research note on Wednesday, February 19th. They issued a "buy" rating for the company. Wall Street Zen downgraded SK Telecom from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. 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 "buy" rating to a "neutral" rating in a research note on Monday, March 3rd. Finally, New Street Research upgraded shares of SK Telecom to a "hold" rating in a research note on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company 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.