SK Telecom Co., Ltd. $SKM Shares Bought by LPL Financial LLC

Key Points

• LPL Financial LLC increased its holdings in SK Telecom by 17.3%, acquiring an additional 13,070 shares for a total value of approximately $1.88 million.
• Several other hedge funds also made significant changes to their positions in SK Telecom, with some purchasing new stakes valued at up to $240,000.
• SK Telecom reported a disappointing quarterly earnings with an EPS of $0.16, missing the consensus estimate of $0.36, and analysts expect a 2.27 EPS for the current fiscal year.

LPL Financial LLC increased its stake in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 17.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 88,665 shares of the Wireless communications provider's stock after buying an additional 13,070 shares during the quarter. LPL Financial LLC's holdings in SK Telecom were worth $1,885,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SKM. BNP Paribas Financial Markets acquired a new stake in SK Telecom during the fourth quarter worth $10,712,000. Raymond James Financial Inc. acquired a new position in SK Telecom during the 4th quarter worth $1,879,000. Robeco Institutional Asset Management B.V. grew its stake in SK Telecom by 2.7% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 3,018,570 shares of the Wireless communications provider's stock worth $64,175,000 after purchasing an additional 80,042 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in SK Telecom by 87.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 157,789 shares of the Wireless communications provider's stock worth $3,355,000 after purchasing an additional 73,444 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in SK Telecom during the 4th quarter worth about $1,344,000.

SK Telecom Stock Performance

SKM stock traded down $0.21 during trading on Tuesday, hitting $21.86. The company had a trading volume of 242,433 shares, compared to its average volume of 321,153. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $22.49 and a 200-day moving average price of $21.84. SK Telecom Co., Ltd. has a 1-year low of $19.84 and a 1-year high of $24.58. The firm has a market cap of $8.61 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 8.98 and a beta of 0.63.

SK Telecom (NYSE:SKM - Get Free Report) last released its earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.20). SK Telecom had a return on equity of 8.89% and a net margin of 5.92%.The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.14 billion. On average, analysts expect that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SKM has been the subject of several research reports. The Goldman Sachs Group downgraded SK Telecom from a "neutral" rating to a "sell" rating in a report on Monday, July 7th. JPMorgan Chase & Co. downgraded SK Telecom from an "overweight" rating to a "neutral" rating in a report on Monday, May 12th. Citigroup downgraded SK Telecom from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. 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 raised SK Telecom to a "hold" rating in a report on Monday, May 19th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold".

SK Telecom Company 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.