SK Telecom Co., Ltd. $SKM Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC reduced its stake in SK Telecom by 15.4%, selling 75,894 shares and bringing its total holdings to 416,015 shares worth $8,838,000.
• SK Telecom reported a quarterly EPS of $0.16, missing analysts' expectations of $0.36, with revenues totaling $3.12 billion compared to forecasts of $3.14 billion.
• Recent analyst ratings for SK Telecom include three Hold ratings and one Sell, reflecting a consensus rating of Hold amid lowered expectations from firms like Goldman Sachs.

Acadian Asset Management LLC cut its holdings in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 15.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 416,015 shares of the Wireless communications provider's stock after selling 75,894 shares during the period. Acadian Asset Management LLC owned 0.11% of SK Telecom worth $8,838,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SKM. Skandinaviska Enskilda Banken AB publ acquired a new position in SK Telecom in the first quarter valued at approximately $37,000. SVB Wealth LLC acquired a new position in SK Telecom in the first quarter valued at approximately $42,000. Brooklyn Investment Group lifted its holdings in SK Telecom by 854.4% in the first 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 during the last quarter. Parallel Advisors LLC lifted its holdings in SK Telecom by 55.0% in the first 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 during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in SK Telecom in the first quarter valued at approximately $85,000.

SK Telecom Stock Down 0.4%

Shares of NYSE SKM opened at $21.74 on Friday. The firm has a market cap of $8.56 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 11.11 and a beta of 0.58. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.55. SK Telecom Co., Ltd. has a 52-week low of $19.84 and a 52-week high of $24.58. The business's 50 day moving average is $22.15 and its two-hundred day moving average is $21.80.

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). SK Telecom had a return on equity of 8.89% and a net margin of 5.92%.The company had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.14 billion. Research analysts predict that SK Telecom Co., Ltd. will post 2.27 EPS for the current year.

Analysts Set New Price Targets

SKM has been the topic of a number of research analyst reports. Wall Street Zen lowered SK Telecom from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group lowered SK Telecom from a "neutral" rating to a "sell" rating in a research report on Monday, July 7th. Finally, New Street Research raised SK Telecom to a "hold" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus 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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