OVERSEA CHINESE BANKING Corp Ltd Has $2.79 Million Stake in SK Telecom Co., Ltd. $SKM

Key Points

• OVERSEA CHINESE BANKING Corp Ltd raised its stake in SK Telecom by 46.3% in Q4 to 136,003 shares, valued at about $2.79 million.
• Brokerages have issued several downgrades (including Citigroup and Bank of America) and MarketBeat shows an average analyst rating of "Reduce" (1 Buy, 4 Hold, 3 Sell).
• SK Telecom reported Q4 EPS of $10.67 (well above the $0.10 estimate) while revenue slightly missed forecasts; the company has a market cap of about $14.9 billion and a PE of 57.14.

OVERSEA CHINESE BANKING Corp Ltd raised its position in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 46.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 136,003 shares of the Wireless communications provider's stock after purchasing an additional 43,053 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in SK Telecom were worth $2,792,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its position in shares of SK Telecom by 94.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider's stock worth $29,000 after purchasing an additional 648 shares during the period. Allworth Financial LP lifted its position in shares of SK Telecom by 138.2% in the 3rd quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider's stock worth $37,000 after purchasing an additional 987 shares during the period. HM Payson & Co. lifted its position in shares of SK Telecom by 38.9% in the 3rd quarter. HM Payson & Co. now owns 1,822 shares of the Wireless communications provider's stock worth $39,000 after purchasing an additional 510 shares during the period. Wexford Capital LP acquired a new position in shares of SK Telecom in the 3rd quarter worth approximately $39,000. Finally, Farther Finance Advisors LLC lifted its position in shares of SK Telecom by 72.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,883 shares of the Wireless communications provider's stock worth $62,000 after purchasing an additional 1,209 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SKM. Citigroup downgraded shares of SK Telecom from a "hold" rating to a "strong sell" rating in a research report on Wednesday, February 18th. Bank of America downgraded shares of SK Telecom from a "neutral" rating to an "underperform" rating in a research report on Wednesday, February 18th. Daiwa Securities Group downgraded shares of SK Telecom to a "hold" rating in a research report on Wednesday, January 14th. Weiss Ratings upgraded shares of SK Telecom from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, March 12th. Finally, Wall Street Zen upgraded shares of SK Telecom from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Reduce".

SK Telecom Stock Up 0.6%

SK Telecom stock opened at $38.85 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. SK Telecom Co., Ltd. has a 12-month low of $19.66 and a 12-month high of $40.49. The firm's fifty day moving average is $31.65 and its 200 day moving average is $25.19. The company has a market capitalization of $14.91 billion, a PE ratio of 57.14, a PEG ratio of 0.25 and a beta of 0.46.

SK Telecom (NYSE:SKM - Get Free Report) last released its earnings results on Thursday, February 5th. The Wireless communications provider reported $10.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $10.57. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.02 billion. SK Telecom had a net margin of 2.28% and a return on equity of 3.21%. As a group, sell-side analysts predict that SK Telecom Co., Ltd. will post 2.68 EPS for the current fiscal year.

About SK Telecom

SK Telecom Co, Ltd. NYSE: SKM is South Korea's largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.

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