Groupama Asset Managment Buys Shares of 24,519 SK Telecom Co., Ltd. $SKM

Key Points

• Groupama Asset Management has acquired a new stake in SK Telecom Co., Ltd., purchasing 24,519 shares valued at approximately $519,000 during the first quarter.
• Multiple institutional investors have recently increased their positions in SK Telecom, highlighting ongoing interest despite the company's mixed quarterly earnings.
• SK Telecom's stock has received several rating changes from analysts, with an average rating of "Hold," following reports of weaker than expected earnings per share and revenue compared to analyst estimates.

Groupama Asset Managment acquired a new stake in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 24,519 shares of the Wireless communications provider's stock, valued at approximately $519,000.

A number of other hedge funds also recently made changes to their positions in SKM. Skandinaviska Enskilda Banken AB publ acquired a new stake in SK Telecom during the 1st quarter worth approximately $37,000. Brooklyn Investment Group lifted its holdings in 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 last quarter. Parallel Advisors LLC lifted its holdings in 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 last quarter. TD Asset Management Inc bought a new position in SK Telecom during the 1st quarter worth $212,000. Finally, Callan Family Office LLC bought a new position in shares of SK Telecom in the 1st quarter valued at $212,000.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SKM shares. Wall Street Zen downgraded SK Telecom from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. lowered SK Telecom from an "overweight" rating to a "neutral" rating in a report on Monday, May 12th. The Goldman Sachs Group lowered SK Telecom from a "neutral" rating to a "sell" rating in a report on Monday, July 7th. New Street Research raised SK Telecom to a "hold" rating in a report on Monday, May 19th. Finally, Citigroup downgraded SK Telecom from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, SK Telecom has a consensus rating of "Hold".

SK Telecom Trading Down 0.0%

Shares of NYSE SKM traded down $0.01 during trading hours on Wednesday, hitting $21.85. The company's stock had a trading volume of 62,152 shares, compared to its average volume of 377,479. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.86 and a current ratio of 0.88. The stock has a market cap of $8.60 billion, a price-to-earnings ratio of 11.20, a P/E/G ratio of 8.98 and a beta of 0.63. SK Telecom Co., Ltd. has a 12 month low of $19.84 and a 12 month high of $24.58. The business has a 50-day simple moving average of $22.49 and a 200-day simple moving average of $21.84.

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

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.