Parallel Advisors LLC Grows Stock Holdings in SK Telecom Co., Ltd. $SKM

Key Points

• Parallel Advisors LLC increased its stake in SK Telecom by 540.8%, acquiring an additional 13,465 shares, bringing their total holdings to 15,955 shares valued at $373,000.
• Institutional investors have shown significant interest in SK Telecom, with multiple firms like Envestnet Asset Management raising their stakes by substantial percentages in recent quarters.
• Goldman Sachs downgraded SK Telecom's rating from "neutral" to "sell", with the average rating now standing at "Hold" among analysts.

Parallel Advisors LLC lifted its position in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 540.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,955 shares of the Wireless communications provider's stock after acquiring an additional 13,465 shares during the period. Parallel Advisors LLC's holdings in SK Telecom were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its position in shares of SK Telecom by 2.7% during the first quarter. Robeco Institutional Asset Management B.V. now owns 3,018,570 shares of the Wireless communications provider's stock valued at $64,175,000 after acquiring an additional 80,042 shares in the last quarter. Citigroup Inc. increased its position in shares of SK Telecom by 55.5% during the first quarter. Citigroup Inc. now owns 1,202,830 shares of the Wireless communications provider's stock valued at $25,572,000 after acquiring an additional 429,434 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of SK Telecom by 1.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,062,667 shares of the Wireless communications provider's stock valued at $22,518,000 after acquiring an additional 17,718 shares in the last quarter. Great Lakes Advisors LLC grew its position in SK Telecom by 543.6% in the 1st quarter. Great Lakes Advisors LLC now owns 593,312 shares of the Wireless communications provider's stock worth $12,614,000 after purchasing an additional 501,125 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in SK Telecom by 113.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 428,723 shares of the Wireless communications provider's stock worth $9,115,000 after purchasing an additional 227,792 shares during the period.

Analyst Ratings Changes

Separately, The Goldman Sachs Group downgraded shares of SK Telecom from a "neutral" rating to a "sell" rating in a research report on Monday, July 7th. One equities 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's stock. According to MarketBeat.com, SK Telecom presently has a consensus rating of "Hold".

SK Telecom Stock Performance

Shares of SK Telecom stock traded down $0.06 on Tuesday, hitting $21.89. 92,654 shares of the company's stock were exchanged, compared to its average volume of 376,508. The company has a 50-day simple moving average of $22.12 and a 200-day simple moving average of $21.81. The stock has a market capitalization of $8.62 billion, a PE ratio of 11.23, a PEG ratio of 11.13 and a beta of 0.58. SK Telecom Co., Ltd. has a 1 year low of $19.84 and a 1 year high of $24.58. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.01 and a current ratio of 1.03.

SK Telecom (NYSE:SKM - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.14 billion. SK Telecom had a return on equity of 8.92% and a net margin of 5.92%. As a group, equities analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current 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.