Quantinno Capital Management LP Boosts Holdings in SK Telecom Co., Ltd. $SKM

Key Points

• Quantinno Capital Management increased its SK Telecom stake by 149.3% in the first quarter, acquiring 140,858 additional shares and ending with 235,221 shares valued at approximately $6.89 million.
• Analyst sentiment remains cautious despite recent upgrades: SK Telecom has a consensus “Reduce” rating, based on one Buy, four Hold, and two Sell ratings.
• SK Telecom exceeded quarterly expectations, reporting $0.81 earnings per share versus a $0.59 estimate and revenue of $3.06 billion, above the $2.96 billion consensus.

Quantinno Capital Management LP raised its position in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 149.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 235,221 shares of the Wireless communications provider's stock after purchasing an additional 140,858 shares during the period. Quantinno Capital Management LP owned 0.06% of SK Telecom worth $6,890,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Bridgewater Advisors Inc. increased its holdings in shares of SK Telecom by 73.2% in the first quarter. Bridgewater Advisors Inc. now owns 23,183 shares of the Wireless communications provider's stock worth $679,000 after purchasing an additional 9,795 shares during the period. Renaissance Technologies LLC boosted its stake in SK Telecom by 30.0% during the first quarter. Renaissance Technologies LLC now owns 37,687 shares of the Wireless communications provider's stock valued at $1,104,000 after buying an additional 8,692 shares during the period. First Trust Advisors LP boosted its stake in SK Telecom by 243.6% during the first quarter. First Trust Advisors LP now owns 155,294 shares of the Wireless communications provider's stock valued at $4,549,000 after buying an additional 110,096 shares during the period. ABN Amro Investment Solutions grew its position in SK Telecom by 136.8% during the first quarter. ABN Amro Investment Solutions now owns 568,343 shares of the Wireless communications provider's stock worth $16,647,000 after buying an additional 328,300 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in SK Telecom by 5.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 53,448 shares of the Wireless communications provider's stock worth $1,565,000 after acquiring an additional 2,542 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SKM shares. HSBC upgraded SK Telecom from a "reduce" rating to a "hold" rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. upgraded shares of SK Telecom from a "neutral" rating to an "overweight" rating in a research report on Thursday, July 16th. Wall Street Zen upgraded shares of SK Telecom from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Weiss Ratings cut shares of SK Telecom from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, July 29th. Finally, Zacks Research raised shares of SK Telecom from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce".

SK Telecom Price Performance

SKM opened at $34.88 on Thursday. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $13.39 billion, a P/E ratio of 58.14, a PEG ratio of 0.21 and a beta of 0.64. The stock has a 50-day moving average price of $34.81 and a 200-day moving average price of $33.07. SK Telecom Co., Ltd. has a 12-month low of $19.66 and a 12-month high of $47.18.

SK Telecom (NYSE:SKM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The Wireless communications provider reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.22. The company had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $2.96 billion. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%. Equities analysts predict that SK Telecom Co., Ltd. will post 2.76 earnings per share 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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