Landscape Capital Management L.L.C. Increases Stock Position in SK Telecom Co., Ltd. $SKM

Key Points

• Landscape Capital Management L.L.C. increased its stake in SK Telecom Co., Ltd. by 83.8%, acquiring an additional 51,073 shares during the first quarter, bringing its total to 112,040 shares valued at $2,382,000.
• Analysts have downgraded SK Telecom's stock rating, with Goldman Sachs lowering it from "neutral" to "sell" and both Citigroup and JPMorgan Chase also issuing downgrades.
• SK Telecom reported $0.16 earnings per share (EPS) for the latest quarter, missing analysts' expectations, with revenues slightly below consensus estimates at $3.12 billion.

Landscape Capital Management L.L.C. boosted its stake in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 83.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,040 shares of the Wireless communications provider's stock after purchasing an additional 51,073 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in SK Telecom were worth $2,382,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SKM. Skandinaviska Enskilda Banken AB publ acquired a new position in SK Telecom in the 1st quarter worth $37,000. SVB Wealth LLC bought a new stake in shares of SK Telecom in the first quarter valued at approximately $42,000. Brooklyn Investment Group increased its position in shares of SK Telecom by 854.4% in 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 lifted its holdings 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 acquiring an additional 884 shares during the period. Finally, TD Asset Management Inc bought a new position in SK Telecom in the first quarter valued at approximately $212,000.

SK Telecom Stock Performance

SK Telecom stock traded down $0.02 during mid-day trading on Wednesday, reaching $21.56. 71,932 shares of the company's stock were exchanged, compared to its average volume of 376,388. The business's fifty day simple moving average is $22.42 and its 200 day simple moving average is $21.85. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $8.49 billion, a PE ratio of 11.06, a P/E/G ratio of 10.97 and a beta of 0.58. SK Telecom Co., Ltd. has a one year low of $19.84 and a one year high of $24.58.

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). SK Telecom had a net margin of 5.92% and a return on equity of 8.89%. The company had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.14 billion. On average, sell-side analysts expect that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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