Ethic Inc. Reduces Stock Holdings in SK Telecom Co., Ltd. $SKM

Key Points

• Ethic Inc. reduced its holdings in SK Telecom by 14.7%, selling 11,207 shares and ended the quarter with a worth of $1,378,000.
• Several large investors, including JPMorgan Chase and Envestnet Asset Management, increased their positions in SK Telecom significantly during the 4th quarter, reflecting growing interest in the stock.
• Wall Street analysts have given mixed reviews, with ratings being cut from "buy" to "hold" or "sell" by firms like Goldman Sachs and Citigroup, leading to a current consensus rating of "Hold."

Ethic Inc. reduced its position in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 14.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,052 shares of the Wireless communications provider's stock after selling 11,207 shares during the quarter. Ethic Inc.'s holdings in SK Telecom were worth $1,378,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its holdings in shares of SK Telecom by 2.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 3,018,570 shares of the Wireless communications provider's stock valued at $64,175,000 after acquiring an additional 80,042 shares during the period. Citigroup Inc. boosted its holdings in shares of SK Telecom by 55.5% in the first quarter. Citigroup Inc. now owns 1,202,830 shares of the Wireless communications provider's stock valued at $25,572,000 after acquiring an additional 429,434 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of SK Telecom by 1.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,062,667 shares of the Wireless communications provider's stock valued at $22,518,000 after acquiring an additional 17,718 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of SK Telecom in the fourth quarter valued at approximately $10,712,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of SK Telecom by 113.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 428,723 shares of the Wireless communications provider's stock valued at $9,115,000 after acquiring an additional 227,792 shares during the period.

Analyst Ratings Changes

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

SK Telecom Price Performance

NYSE:SKM traded up $0.2190 during trading hours on Friday, hitting $22.2590. The company's stock had a trading volume of 259,210 shares, compared to its average volume of 332,523. The business's 50-day moving average is $22.50 and its two-hundred day moving average is $21.83. The company has a market capitalization of $8.77 billion, a PE ratio of 11.41, a PEG ratio of 9.06 and a beta of 0.63. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.86 and a current ratio of 0.88. SK Telecom Co., Ltd. has a 52-week low of $19.84 and a 52-week high of $24.58.

SK Telecom (NYSE:SKM - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.14 billion. SK Telecom had a return on equity of 8.89% and a net margin of 5.92%. As a group, research analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

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.