Great Lakes Advisors LLC Buys 501,125 Shares of SK Telecom Co., Ltd. $SKM

Key Points

• Great Lakes Advisors LLC significantly increased its holdings in SK Telecom, acquiring an additional 501,125 shares, raising its total ownership to 593,312 shares, valued at $12.6 million.
• Several institutional investors, including Goldman Sachs and Millennium Management, have also increased their stakes in SK Telecom, indicating growing institutional interest in the company.
• SK Telecom's stock was recently downgraded by multiple brokerages, with Goldman Sachs moving from a "neutral" to a "sell" rating, reflecting mixed analyst sentiments about the company's future performance.

Great Lakes Advisors LLC lifted its stake in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 543.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 593,312 shares of the Wireless communications provider's stock after buying an additional 501,125 shares during the quarter. Great Lakes Advisors LLC owned about 0.15% of SK Telecom worth $12,614,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in SK Telecom in the 1st quarter valued at $37,000. SVB Wealth LLC bought a new position in SK Telecom during the 1st quarter valued at $42,000. Brooklyn Investment Group raised its stake in shares of SK Telecom by 854.4% during the 1st quarter. Brooklyn Investment Group now owns 2,300 shares of the Wireless communications provider's stock worth $49,000 after purchasing an additional 2,059 shares during the period. Parallel Advisors LLC raised its stake 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 worth $53,000 after purchasing an additional 884 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of SK Telecom during the 1st quarter worth $85,000.

SK Telecom Price Performance

Shares of NYSE SKM traded down $0.08 during midday trading on Friday, hitting $21.74. 455,521 shares of the company's stock were exchanged, compared to its average volume of 379,634. The business's fifty day moving average price is $22.18 and its two-hundred day moving average price is $21.81. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 11.06 and a beta of 0.58. SK Telecom Co., Ltd. has a 12-month low of $19.84 and a 12-month high of $24.58. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.55.

SK Telecom (NYSE:SKM - Get Free Report) last released its earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.20). The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.14 billion. SK Telecom had a return on equity of 8.89% and a net margin of 5.92%. As a group, research analysts forecast that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SKM shares. The Goldman Sachs Group cut SK Telecom from a "neutral" rating to a "sell" rating in a research note 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. Finally, New Street Research upgraded shares of SK Telecom to a "hold" rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus 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.