Great Lakes Advisors LLC Acquires 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 raised its holdings 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 disclosure 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 period. Great Lakes Advisors LLC owned about 0.15% of SK Telecom worth $12,614,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SKM. Skandinaviska Enskilda Banken AB publ purchased a new stake in SK Telecom during the first quarter valued at about $37,000. SVB Wealth LLC purchased a new stake in SK Telecom during the first quarter valued at about $42,000. Brooklyn Investment Group boosted its holdings in shares of SK Telecom by 854.4% during the first 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 boosted its holdings in shares of SK Telecom by 55.0% during the first 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 purchased a new stake in shares of SK Telecom during the first quarter worth about $85,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SKM. The Goldman Sachs Group lowered shares of SK Telecom from a "neutral" rating to a "sell" rating in a report on Monday, July 7th. New Street Research upgraded shares of SK Telecom to a "hold" rating in a report on Monday, May 19th. Finally, Wall Street Zen lowered shares of SK Telecom from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, SK Telecom currently has an average rating of "Hold".

SK Telecom Trading Down 0.4%

SKM stock traded down $0.08 during trading on Friday, reaching $21.74. The company had a trading volume of 455,521 shares, compared to its average volume of 346,535. SK Telecom Co., Ltd. has a 52 week low of $19.84 and a 52 week high of $24.58. The company has a market cap of $8.56 billion, a P/E ratio of 11.15, a PEG ratio of 11.10 and a beta of 0.58. The business has a 50 day moving average of $22.15 and a 200 day moving average of $21.79. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.01.

SK Telecom (NYSE:SKM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.20). SK Telecom had a return on equity of 8.92% and a net margin of 5.92%.The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.14 billion. As a group, sell-side analysts forecast that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal 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.