Robeco Institutional Asset Management B.V. Sells 569,604 Shares of SK Telecom Co., Ltd. $SKM

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in SK Telecom by 18.9%, selling 569,604 shares, leaving it with approximately 2.45 million shares valued at $57.18 million.
• The Goldman Sachs Group downgraded SK Telecom shares from a "neutral" rating to a "sell" rating, contributing to a consensus rating of "Hold" among analysts.
• SK Telecom reported an EPS of $0.16 for the latest quarter, falling short of analysts' expectations of $0.36, with revenue slightly below estimates at $3.12 billion.

Robeco Institutional Asset Management B.V. decreased its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 18.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,448,966 shares of the Wireless communications provider's stock after selling 569,604 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.62% of SK Telecom worth $57,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of SKM. Skandinaviska Enskilda Banken AB publ bought a new stake in SK Telecom during the 1st quarter valued at $37,000. Farther Finance Advisors LLC raised its holdings in SK Telecom by 1,780.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,674 shares of the Wireless communications provider's stock valued at $39,000 after acquiring an additional 1,585 shares during the period. SVB Wealth LLC bought a new stake in SK Telecom during the 1st quarter valued at $42,000. Brooklyn Investment Group raised its holdings in SK Telecom by 854.4% during the 1st quarter. Brooklyn Investment Group now owns 2,300 shares of the Wireless communications provider's stock valued at $49,000 after acquiring an additional 2,059 shares during the period. Finally, Parallel Advisors LLC increased its holdings in shares of SK Telecom by 55.0% in the first quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider's stock worth $53,000 after purchasing an additional 884 shares during the period.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group cut shares of SK Telecom from a "neutral" rating to a "sell" rating in a report on Monday, July 7th. 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 stock. Based on data from MarketBeat.com, SK Telecom has a consensus rating of "Hold".

SK Telecom Trading Up 0.5%

SK Telecom stock opened at $21.74 on Friday. The stock has a market cap of $8.56 billion, a P/E ratio of 11.15, a PEG ratio of 11.02 and a beta of 0.58. SK Telecom Co., Ltd. has a fifty-two week low of $19.84 and a fifty-two week high of $24.34. The firm's fifty day moving average price is $22.00 and its 200-day moving average price is $21.82. 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 released its earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.20). The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.14 billion. SK Telecom had a net margin of 5.92% and a return on equity of 8.92%. Equities research analysts forecast that SK Telecom Co., Ltd. will post 2.27 earnings per share 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.

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