SK Telecom Co., Ltd. (NYSE:SKM) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its position in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 35.4% in the 1st quarter, according to the company in its most recent disclosure 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SKM. Elevation Point Wealth Partners LLC raised its position in SK Telecom by 13.0% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 35,308 shares of the Wireless communications provider's stock worth $751,000 after buying an additional 4,051 shares during the last quarter. CHICAGO TRUST Co NA increased its stake in shares of SK Telecom by 24.4% in the first quarter. CHICAGO TRUST Co NA now owns 13,033 shares of the Wireless communications provider's stock worth $277,000 after acquiring an additional 2,559 shares during the period. Rhumbline Advisers increased its stake in shares of SK Telecom by 8.6% in the first quarter. Rhumbline Advisers now owns 94,631 shares of the Wireless communications provider's stock worth $2,012,000 after acquiring an additional 7,485 shares during the period. Parallel Advisors LLC raised its holdings in shares of SK Telecom by 55.0% during 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 last quarter. Finally, GAMMA Investing LLC lifted its position in SK Telecom by 1,961.9% during the first quarter. GAMMA Investing LLC now owns 62,249 shares of the Wireless communications provider's stock valued at $1,323,000 after purchasing an additional 59,230 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Citigroup downgraded SK Telecom from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. New Street Research raised SK Telecom to a "hold" rating in a report on Monday, May 19th. Wall Street Zen cut SK Telecom from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group downgraded SK Telecom from a "buy" rating to a "neutral" rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. lowered SK Telecom from an "overweight" rating to a "neutral" rating in a research report on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

SK Telecom Price Performance

NYSE:SKM opened at $22.11 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.55. SK Telecom Co., Ltd. has a 52 week low of $19.84 and a 52 week high of $24.58. The stock's 50-day moving average price is $21.41 and its 200-day moving average price is $21.55. The stock has a market capitalization of $8.71 billion, a PE ratio of 9.14, a price-to-earnings-growth ratio of 2.31 and a beta of 0.60.

SK Telecom (NYSE:SKM - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The Wireless communications provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.61 by $0.04. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. SK Telecom had a return on equity of 10.98% and a net margin of 7.31%. As a group, equities analysts expect that SK Telecom Co., Ltd. will post 2.27 EPS 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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