Hsbc Holdings PLC Boosts Position in SK Telecom Co., Ltd. $SKM

Key Points

• Hsbc Holdings PLC increased its stake in SK Telecom Co., Ltd. by 239.0% in the first quarter, acquiring 34,776 additional shares for a total of 49,326 shares valued at approximately $1,046,000.
• Several hedge funds adjusted their positions in SK Telecom during the fourth quarter, with Northern Trust Corp increasing its holdings by 270.1% to own 83,497 shares worth $1,757,000.
• SK Telecom's stock recently opened at $21.54 and reported a quarterly earnings per share (EPS) of $0.16, missing expectations of $0.36 and resulting in its stock down 2.8%.

Hsbc Holdings PLC lifted its stake in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 239.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,326 shares of the Wireless communications provider's stock after buying an additional 34,776 shares during the quarter. Hsbc Holdings PLC's holdings in SK Telecom were worth $1,046,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of SKM. Skandinaviska Enskilda Banken AB publ acquired a new stake in SK Telecom in the 1st quarter valued at $37,000. Brooklyn Investment Group lifted its stake in SK Telecom by 854.4% during the 1st quarter. Brooklyn Investment Group now owns 2,300 shares of the Wireless communications provider's stock valued at $49,000 after acquiring an additional 2,059 shares in the last quarter. Parallel Advisors LLC lifted its stake in SK Telecom by 55.0% during the 1st quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider's stock valued at $53,000 after acquiring an additional 884 shares in the last quarter. TD Asset Management Inc bought a new position in SK Telecom during the 1st quarter valued at $212,000. Finally, Callan Family Office LLC bought a new position in SK Telecom during the 1st quarter valued at $212,000.

SK Telecom Price Performance

SKM stock traded up $0.03 during mid-day trading on Tuesday, reaching $21.57. 349,407 shares of the company traded hands, compared to its average volume of 378,271. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.88 and a quick ratio of 0.86. The company has a market capitalization of $8.50 billion, a P/E ratio of 11.06, a P/E/G ratio of 10.97 and a beta of 0.58. SK Telecom Co., Ltd. has a 52-week low of $19.84 and a 52-week high of $24.58. The company has a fifty day moving average price of $22.45 and a 200-day moving average price of $21.85.

SK Telecom (NYSE:SKM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The Wireless communications provider reported $0.16 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 analysts' expectations of $3.14 billion. As a group, analysts anticipate that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SKM shares. The Goldman Sachs Group cut SK Telecom from a "neutral" rating to a "sell" rating in a research note on Monday, July 7th. Wall Street Zen cut SK Telecom from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. New Street Research upgraded SK Telecom to a "hold" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. cut SK Telecom from an "overweight" rating to a "neutral" rating in a research note on Monday, May 12th. Finally, Citigroup cut SK Telecom from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus 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.