Goldman Sachs Group Inc. Has $5.53 Million Stock Holdings in SK Telecom Co., Ltd. $SKM

Key Points

• Goldman Sachs increased its stake in SK Telecom by 46.9%, owning approximately 0.07% of the company after acquiring an additional 83,030 shares, bringing their total to 260,140 shares valued at about $5.5 million.
• SK Telecom reported earnings per share of $0.16 for the last quarter, falling short of analysts' expectations of $0.36; revenue also missed expectations at $3.12 billion versus a forecast of $3.14 billion.
• Analysts have mixed ratings on SK Telecom, with Goldman Sachs downgrading the stock from "neutral" to "sell" while other analysts have assigned a mix of ratings, resulting in an average rating of "Hold".

Goldman Sachs Group Inc. boosted its stake in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 46.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 260,140 shares of the Wireless communications provider's stock after buying an additional 83,030 shares during the period. Goldman Sachs Group Inc. owned 0.07% of SK Telecom worth $5,531,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in shares of SK Telecom by 8.6% during the 1st quarter. Rhumbline Advisers now owns 94,631 shares of the Wireless communications provider's stock valued at $2,012,000 after acquiring an additional 7,485 shares during the period. Great Lakes Advisors LLC grew its stake in shares of SK Telecom by 543.6% during the first quarter. Great Lakes Advisors LLC now owns 593,312 shares of the Wireless communications provider's stock worth $12,614,000 after purchasing an additional 501,125 shares in the last quarter. Millennium Management LLC grew its stake in shares of SK Telecom by 160.7% during the first quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider's stock worth $4,823,000 after purchasing an additional 139,829 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of SK Telecom by 38.8% in the first quarter. Advisors Asset Management Inc. now owns 16,038 shares of the Wireless communications provider's stock valued at $341,000 after buying an additional 4,482 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in SK Telecom during the first quarter worth about $85,000.

SK Telecom Stock Down 1.0%

Shares of SK Telecom stock traded down $0.22 on Friday, hitting $21.88. The company had a trading volume of 264,298 shares, compared to its average volume of 343,249. The firm has a market capitalization of $8.62 billion, a P/E ratio of 11.22, a P/E/G ratio of 11.25 and a beta of 0.58. 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 0.62, a current ratio of 1.03 and a quick ratio of 1.01. The stock has a 50-day moving average of $22.13 and a 200-day moving average of $21.80.

SK Telecom (NYSE:SKM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The Wireless communications provider reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.20). SK Telecom had a net margin of 5.92% and a return on equity of 8.92%. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.14 billion. Research analysts predict that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group downgraded shares of SK Telecom from a "neutral" rating to a "sell" rating in a research note on Monday, July 7th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, SK Telecom has an average rating of "Hold".

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.