Millennium Management LLC Decreases Stock Position in SK Telecom Co., Ltd. (NYSE:SKM)

Millennium Management LLC lessened its position in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 54.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,019 shares of the Wireless communications provider's stock after selling 104,741 shares during the period. Millennium Management LLC's holdings in SK Telecom were worth $1,831,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SKM. Principal Securities Inc. grew its holdings in SK Telecom by 147.7% in the fourth quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider's stock valued at $25,000 after purchasing an additional 721 shares during the period. Quadrant Capital Group LLC grew its holdings in SK Telecom by 15.2% in the fourth quarter. Quadrant Capital Group LLC now owns 5,797 shares of the Wireless communications provider's stock valued at $122,000 after purchasing an additional 764 shares during the period. Global Retirement Partners LLC grew its holdings in SK Telecom by 130.8% in the fourth quarter. Global Retirement Partners LLC now owns 7,526 shares of the Wireless communications provider's stock valued at $158,000 after purchasing an additional 4,265 shares during the period. Assetmark Inc. grew its holdings in SK Telecom by 180.1% in the fourth quarter. Assetmark Inc. now owns 8,260 shares of the Wireless communications provider's stock valued at $174,000 after purchasing an additional 5,311 shares during the period. Finally, Tandem Financial LLC purchased a new stake in SK Telecom in the fourth quarter valued at approximately $204,000.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SKM shares. Wall Street Zen downgraded shares of SK Telecom from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. downgraded shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research note on Monday, May 12th. New Street Research upgraded shares of SK Telecom to a "hold" rating in a research note on Monday, May 19th. Citigroup downgraded shares of SK Telecom from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. Finally, UBS Group started coverage on shares of SK Telecom in a research note on Wednesday, February 19th. They set a "buy" rating for the company. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold".

SK Telecom Trading Up 0.3%

SKM traded up $0.07 during trading on Friday, hitting $21.33. 555,494 shares of the company's stock were exchanged, compared to its average volume of 293,063. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48. SK Telecom Co., Ltd. has a 1 year low of $19.84 and a 1 year high of $24.58. The stock has a 50 day moving average price of $21.28 and a 200 day moving average price of $21.64. The firm has a market cap of $8.40 billion, a P/E ratio of 8.70, a price-to-earnings-growth ratio of 1.27 and a beta of 0.60.

SK Telecom (NYSE:SKM - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The Wireless communications provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.04. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. As a group, analysts expect that SK Telecom Co., Ltd. will post 2.27 EPS 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.