SK Telecom Co., Ltd. (NYSE:SKM) Stock Holdings Decreased by Ritholtz Wealth Management

Ritholtz Wealth Management lessened its stake in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 35.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,423 shares of the Wireless communications provider's stock after selling 19,415 shares during the quarter. Ritholtz Wealth Management's holdings in SK Telecom were worth $753,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SKM. Rhumbline Advisers lifted its position in SK Telecom by 30.8% during the 4th quarter. Rhumbline Advisers now owns 87,146 shares of the Wireless communications provider's stock worth $1,834,000 after acquiring an additional 20,506 shares in the last quarter. Jane Street Group LLC acquired a new position in SK Telecom during the 4th quarter worth approximately $309,000. GAMMA Investing LLC lifted its position in SK Telecom by 1,961.9% during the 1st quarter. GAMMA Investing LLC now owns 62,249 shares of the Wireless communications provider's stock worth $1,323,000 after acquiring an additional 59,230 shares in the last quarter. US Bancorp DE lifted its position in SK Telecom by 27.8% during the 4th quarter. US Bancorp DE now owns 93,295 shares of the Wireless communications provider's stock worth $1,963,000 after acquiring an additional 20,285 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in SK Telecom by 130.8% during the 4th quarter. Global Retirement Partners LLC now owns 7,526 shares of the Wireless communications provider's stock worth $158,000 after acquiring an additional 4,265 shares in the last quarter.

Analyst Ratings Changes

SKM has been the topic of several analyst reports. The Goldman Sachs Group downgraded shares of SK Telecom from a "buy" rating to a "neutral" rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. downgraded shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research note on Monday, May 12th. Wall Street Zen downgraded shares of SK Telecom from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. New Street Research raised shares of SK Telecom to a "hold" rating in a research note on Monday, May 19th. Finally, Citigroup downgraded shares of SK Telecom from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

SK Telecom Stock Up 2.0%

SK Telecom stock traded up $0.44 during midday trading on Friday, hitting $22.56. 828,433 shares of the stock were exchanged, compared to its average volume of 303,216. The company has a 50 day moving average price of $21.43 and a two-hundred day moving average price of $21.52. The firm has a market cap of $8.88 billion, a P/E ratio of 9.32, a P/E/G ratio of 2.36 and a beta of 0.60. 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 0.55, a current ratio of 0.88 and a quick ratio of 0.86.

SK Telecom (NYSE:SKM - Get Free Report) last released its earnings results on Monday, May 12th. The Wireless communications provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.04. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. SK Telecom had a net margin of 7.31% and a return on equity of 10.98%. On average, sell-side analysts predict 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.