SK Telecom Co., Ltd. $SKM Shares Acquired by Goldman Sachs Group Inc.

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. lifted its position 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 13F filing with the Securities & Exchange Commission. The fund 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 approximately 0.07% of SK Telecom worth $5,531,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SK Telecom during the 1st quarter worth $37,000. SVB Wealth LLC acquired a new stake in shares of SK Telecom during the 1st quarter worth $42,000. Brooklyn Investment Group increased its holdings in shares of SK Telecom by 854.4% during the 1st quarter. Brooklyn Investment Group now owns 2,300 shares of the Wireless communications provider's stock worth $49,000 after buying an additional 2,059 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of SK Telecom by 55.0% during the 1st quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider's stock worth $53,000 after buying an additional 884 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of SK Telecom during the 1st quarter worth $85,000.

SK Telecom Stock Performance

NYSE:SKM opened at $21.84 on Tuesday. 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 firm has a 50-day moving average of $22.15 and a two-hundred day moving average of $21.79. The stock has a market cap of $8.60 billion, a P/E ratio of 11.20, a PEG ratio of 11.10 and a beta of 0.58. SK Telecom Co., Ltd. has a 1-year low of $19.84 and a 1-year high of $24.58.

SK Telecom (NYSE:SKM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The Wireless communications provider reported $0.16 earnings per share 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 analysts' expectations of $3.14 billion. SK Telecom had a net margin of 5.92% and a return on equity of 8.92%. On average, research analysts expect that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. The Goldman Sachs Group downgraded SK Telecom from a "neutral" rating to a "sell" rating in a report on Monday, July 7th. Wall Street Zen downgraded SK Telecom from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, New Street Research upgraded SK Telecom to a "hold" rating in a report on Monday, May 19th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold".

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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