Teachers Retirement System of The State of Kentucky Grows Stock Holdings in SK Telecom Co., Ltd. $SKM

Key Points

• Teachers Retirement System of Kentucky raised its SK Telecom stake by 18.2%, adding 34,100 shares in Q4 to hold 221,300 shares worth about $4.543 million.
• Market sentiment is tilted negative with a consensus rating of "Reduce" after downgrades from Bank of America and Citigroup, even as institutional activity remains mixed — notably Robeco increased its holding to 2,462,769 shares (~$50.56 million).

Teachers Retirement System of The State of Kentucky grew its stake in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 18.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 221,300 shares of the Wireless communications provider's stock after purchasing an additional 34,100 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in SK Telecom were worth $4,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in SKM. Boston Common Asset Management LLC increased its stake in shares of SK Telecom by 83.1% in the 4th quarter. Boston Common Asset Management LLC now owns 362,424 shares of the Wireless communications provider's stock worth $7,441,000 after acquiring an additional 164,472 shares during the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in shares of SK Telecom during the 3rd quarter valued at about $1,415,000. North of South Capital LLP acquired a new position in shares of SK Telecom during the 3rd quarter valued at about $1,133,000. Caprock Group LLC purchased a new stake in shares of SK Telecom in the third quarter valued at about $1,804,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of SK Telecom by 17.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider's stock valued at $50,561,000 after purchasing an additional 374,428 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have commented on SKM. Bank of America downgraded shares of SK Telecom from a "neutral" rating to an "underperform" rating in a research note on Wednesday, February 18th. Citigroup cut shares of SK Telecom from a "hold" rating to a "strong sell" rating in a research note on Wednesday, February 18th. Weiss Ratings raised shares of SK Telecom from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, March 12th. Wall Street Zen upgraded SK Telecom from a "sell" rating to a "hold" rating in a report on Saturday, February 7th. Finally, Zacks Research lowered SK Telecom from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, SK Telecom has a consensus rating of "Reduce".

SK Telecom Trading Down 1.8%

NYSE SKM opened at $37.34 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.00. The stock has a market capitalization of $14.33 billion, a P/E ratio of 54.92, a PEG ratio of 0.25 and a beta of 0.46. The firm's 50-day moving average is $32.00 and its two-hundred day moving average is $25.56. SK Telecom Co., Ltd. has a 12 month low of $19.66 and a 12 month high of $40.49.

SK Telecom (NYSE:SKM - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The Wireless communications provider reported $10.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $10.57. The business had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.02 billion. SK Telecom had a net margin of 2.28% and a return on equity of 3.21%. On average, sell-side analysts anticipate that SK Telecom Co., Ltd. will post 2.63 earnings per share for the current year.

SK Telecom Profile

SK Telecom Co, Ltd. NYSE: SKM is South Korea's largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.