US Bancorp DE boosted its position in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 27.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,368 shares of the Wireless communications provider's stock after purchasing an additional 26,073 shares during the period. US Bancorp DE's holdings in SK Telecom were worth $2,538,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in shares of SK Telecom by 87.1% during the first quarter. Envestnet Asset Management Inc. now owns 157,789 shares of the Wireless communications provider's stock valued at $3,355,000 after acquiring an additional 73,444 shares in the last quarter. Jane Street Group LLC purchased a new position in SK Telecom in the fourth quarter valued at about $309,000. Allspring Global Investments Holdings LLC increased its holdings in SK Telecom by 1.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,062,667 shares of the Wireless communications provider's stock worth $22,518,000 after purchasing an additional 17,718 shares during the last quarter. GAMMA Investing LLC raised its position in shares of SK Telecom by 1,961.9% in the 1st quarter. GAMMA Investing LLC now owns 62,249 shares of the Wireless communications provider's stock valued at $1,323,000 after purchasing an additional 59,230 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in shares of SK Telecom during the 1st quarter valued at approximately $368,000.
Analysts Set New Price Targets
A number of analysts recently issued reports on the stock. Wall Street Zen lowered shares of SK Telecom from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. downgraded shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research report on Monday, May 12th. Citigroup downgraded SK Telecom from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group downgraded SK Telecom from a "neutral" rating to a "sell" rating in a report on Monday, July 7th. Finally, New Street Research upgraded SK Telecom to a "hold" rating in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold".
View Our Latest Stock Report on SKM
SK Telecom Stock Performance
Shares of NYSE:SKM traded up $0.12 during trading on Thursday, reaching $22.45. 322,128 shares of the company's stock traded hands, compared to its average volume of 339,682. The stock has a market capitalization of $8.84 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 11.97 and a beta of 0.63. SK Telecom Co., Ltd. has a 12 month low of $19.84 and a 12 month high of $24.58. The company has a 50 day moving average of $22.26 and a 200-day moving average of $21.76. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.88 and a quick ratio of 0.86.
SK Telecom (NYSE:SKM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.20). The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.14 billion. SK Telecom had a net margin of 5.92% and a return on equity of 8.89%. On average, equities analysts expect that SK Telecom Co., Ltd. will post 2.27 EPS for the current year.
SK Telecom Company Profile
(
Free Report)
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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