First Trust Advisors LP increased its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 243.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,294 shares of the Wireless communications provider's stock after buying an additional 110,096 shares during the quarter. First Trust Advisors LP's holdings in SK Telecom were worth $4,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in shares of SK Telecom by 8.2% in the first quarter. Royal Bank of Canada now owns 43,999 shares of the Wireless communications provider's stock worth $936,000 after buying an additional 3,316 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in SK Telecom during the 1st quarter valued at about $85,000. Millennium Management LLC increased its holdings in SK Telecom by 160.7% in the 1st quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider's stock worth $4,823,000 after buying an additional 139,829 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of SK Telecom by 46.9% in the first quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider's stock worth $5,531,000 after acquiring an additional 83,030 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of SK Telecom by 10.8% during the second quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider's stock worth $134,000 after purchasing an additional 560 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on SKM shares. Wall Street Zen upgraded SK Telecom from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. JPMorgan Chase & Co. raised shares of SK Telecom from a "neutral" rating to an "overweight" rating in a research note on Thursday, July 16th. Weiss Ratings lowered shares of SK Telecom from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, July 29th. HSBC upgraded shares of SK Telecom from a "reduce" rating to a "hold" rating in a research note on Thursday, May 7th. Finally, Zacks Research upgraded shares of SK Telecom from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, SK Telecom has an average rating of "Reduce".
Get Our Latest Stock Report on SK Telecom
SK Telecom Trading Up 8.1%
SKM opened at $34.84 on Wednesday. The firm has a market capitalization of $13.37 billion, a price-to-earnings ratio of 58.06, a price-to-earnings-growth ratio of 0.20 and a beta of 0.64. The company's 50 day simple moving average is $34.85 and its two-hundred day simple moving average is $32.97. SK Telecom Co., Ltd. has a 1-year low of $19.66 and a 1-year high of $47.18. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 1.15.
SK Telecom (NYSE:SKM - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.10. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.98 billion. Analysts expect that SK Telecom Co., Ltd. will post 2.76 EPS for the current fiscal year.
SK Telecom Profile
(
Free Report)
SK Telecom Co, Ltd. NYSE: SKM is South Korea's largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.
Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.
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