Natixis Advisors LLC Acquires 28,079 Shares of SK Telecom Co., Ltd. (NYSE:SKM)

Key Points

• Natixis Advisors LLC increased its stake in SK Telecom by 16.3%, owning 200,278 shares worth approximately $4.26 million as of the end of the first quarter.
• SK Telecom reported $0.65 earnings per share for the quarter, surpassing analysts' expectations and contributing to a revenue of $3.18 billion.
• Wall Street analysts have shown mixed sentiments about SK Telecom, with one downgrade to a "sell" rating and a consensus rating of "hold" across several reports.

Natixis Advisors LLC lifted its position in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 16.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 200,278 shares of the Wireless communications provider's stock after buying an additional 28,079 shares during the period. Natixis Advisors LLC owned approximately 0.05% of SK Telecom worth $4,258,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in SK Telecom during the 1st quarter worth $37,000. Parallel Advisors LLC boosted its holdings in SK Telecom by 55.0% in the first quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider's stock valued at $53,000 after purchasing an additional 884 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of SK Telecom by 15.2% during the fourth quarter. Quadrant Capital Group LLC now owns 5,797 shares of the Wireless communications provider's stock worth $122,000 after purchasing an additional 764 shares during the last quarter. TD Asset Management Inc bought a new position in shares of SK Telecom during the first quarter worth about $212,000. Finally, PDS Planning Inc bought a new position in shares of SK Telecom during the first quarter worth about $240,000.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SKM shares. The Goldman Sachs Group lowered shares of SK Telecom from a "neutral" rating to a "sell" rating in a research note on Monday, July 7th. Wall Street Zen lowered shares of SK Telecom from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Citigroup cut shares of SK Telecom from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. New Street Research upgraded shares of SK Telecom to a "hold" rating in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. lowered shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, SK Telecom currently has a consensus rating of "Hold".

SK Telecom Trading Up 1.1%

SK Telecom stock traded up $0.24 during midday trading on Friday, reaching $22.64. The stock had a trading volume of 360,700 shares, compared to its average volume of 350,653. The firm's fifty day simple moving average is $22.30 and its two-hundred day simple moving average is $21.77. SK Telecom Co., Ltd. has a twelve month low of $19.84 and a twelve month high of $24.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.88 and a quick ratio of 0.86. The firm has a market cap of $8.92 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 9.12 and a beta of 0.63.

SK Telecom (NYSE:SKM - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $3.14 billion. SK Telecom had a return on equity of 8.89% and a net margin of 5.92%. Equities analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

About SK Telecom

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.