Vident Advisory LLC Boosts Stake in SK Telecom Co., Ltd. $SKM

Key Points

• Vident Advisory LLC increased its stake in SK Telecom by 17.3%, owning 86,560 shares worth $1.84 million at the end of the first quarter.
• SK Telecom reported $0.16 earnings per share (EPS) for the last quarter, missing consensus estimates of $0.36 EPS by $0.20.
• Analysts are mixed on the stock's outlook, with one buy rating, three holds, and one sell, leading to an overall consensus rating of "Hold".

Vident Advisory LLC lifted its stake in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 17.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,560 shares of the Wireless communications provider's stock after purchasing an additional 12,745 shares during the period. Vident Advisory LLC's holdings in SK Telecom were worth $1,840,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SKM. BNP Paribas Financial Markets purchased a new stake in shares of SK Telecom in the 4th quarter worth $10,712,000. Citigroup Inc. increased its stake in SK Telecom by 55.5% in the 1st quarter. Citigroup Inc. now owns 1,202,830 shares of the Wireless communications provider's stock worth $25,572,000 after buying an additional 429,434 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in SK Telecom by 113.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 428,723 shares of the Wireless communications provider's stock worth $9,115,000 after buying an additional 227,792 shares in the last quarter. Boston Partners increased its stake in SK Telecom by 176.1% in the 1st quarter. Boston Partners now owns 134,932 shares of the Wireless communications provider's stock worth $2,875,000 after buying an additional 86,070 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in SK Telecom by 2.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 3,018,570 shares of the Wireless communications provider's stock worth $64,175,000 after buying an additional 80,042 shares in the last quarter.

SK Telecom Trading Down 2.8%

Shares of SKM stock opened at $21.54 on Tuesday. SK Telecom Co., Ltd. has a 12-month low of $19.84 and a 12-month high of $24.58. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.55. The stock's 50-day moving average price is $22.45 and its 200-day moving average price is $21.85. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 10.97 and a beta of 0.58.

SK Telecom (NYSE:SKM - Get Free Report) last issued its earnings results 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). SK Telecom had a return on equity of 8.89% and a net margin of 5.92%.The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.14 billion. Equities research analysts predict that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SKM. New Street Research upgraded SK Telecom to a "hold" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. lowered SK Telecom from an "overweight" rating to a "neutral" rating in a research note on Monday, May 12th. The Goldman Sachs Group lowered SK Telecom from a "neutral" rating to a "sell" rating in a research note on Monday, July 7th. Wall Street Zen lowered SK Telecom from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Citigroup lowered SK Telecom from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, SK Telecom has a consensus rating of "Hold".

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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