SK Telecom Co., Ltd. $SKM Shares Sold by Ethic Inc.

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 holdings in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 14.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 quarter.

Several other large investors have also recently added to or reduced their stakes in SKM. JPMorgan Chase & Co. increased its position in SK Telecom by 19.1% in the 4th quarter. JPMorgan Chase & Co. now owns 21,131 shares of the Wireless communications provider's stock valued at $445,000 after acquiring an additional 3,383 shares during the period. Envestnet Asset Management Inc. increased its position in SK Telecom by 93.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 84,345 shares of the Wireless communications provider's stock valued at $1,775,000 after acquiring an additional 40,640 shares during the period. Invesco Ltd. increased its position in SK Telecom by 82.7% in the 4th quarter. Invesco Ltd. now owns 84,944 shares of the Wireless communications provider's stock valued at $1,787,000 after acquiring an additional 38,456 shares during the period. Renaissance Technologies LLC acquired a new stake in SK Telecom in the 4th quarter valued at approximately $1,344,000. Finally, Raymond James Financial Inc. acquired a new position in shares of SK Telecom during the 4th quarter valued at $1,879,000.

Wall Street Analyst Weigh In

SKM has been the topic of several research analyst reports. Citigroup cut SK Telecom from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. cut SK Telecom from an "overweight" rating to a "neutral" rating in a research report on Monday, May 12th. The Goldman Sachs Group cut SK Telecom from a "neutral" rating to a "sell" rating in a research report on Monday, July 7th. Wall Street Zen cut SK Telecom from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, New Street Research upgraded SK Telecom to a "hold" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold".

SK Telecom Stock Performance

SKM opened at $22.38 on Tuesday. The firm has a market cap of $8.81 billion, a PE ratio of 11.47, a P/E/G ratio of 9.18 and a beta of 0.63. 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 business has a fifty day simple moving average of $22.46 and a 200-day simple moving average of $21.81. SK Telecom Co., Ltd. has a fifty-two week low of $19.84 and a fifty-two 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 for the quarter, missing the consensus estimate of $0.36 by ($0.20). The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.14 billion. SK Telecom had a return on equity of 8.89% and a net margin of 5.92%. As a group, equities analysts predict that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

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.

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