Wealth Enhancement Advisory Services LLC Takes $313,000 Position in SK Telecom Co., Ltd. $SKM

Key Points

• Wealth Enhancement Advisory Services LLC has acquired a new stake in SK Telecom, purchasing 13,259 shares valued at approximately $313,000 in the second quarter.
• Several institutional investors have significantly increased their positions in SK Telecom, including GAMMA Investing LLC, which raised its stake by 1,961.9% during the 1st quarter.
• Analyst ratings for SK Telecom show a mix of opinions; Goldman Sachs has downgraded the stock from "neutral" to "sell," while others maintain a "hold" or "buy" stance.

Wealth Enhancement Advisory Services LLC bought a new stake in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,259 shares of the Wireless communications provider's stock, valued at approximately $313,000.

A number of other institutional investors have also recently modified their holdings of SKM. GAMMA Investing LLC lifted its position in shares of SK Telecom by 1,961.9% during the 1st quarter. GAMMA Investing LLC now owns 62,249 shares of the Wireless communications provider's stock valued at $1,323,000 after acquiring an additional 59,230 shares during the period. Rhumbline Advisers lifted its position in shares of SK Telecom by 8.6% during the 1st quarter. Rhumbline Advisers now owns 94,631 shares of the Wireless communications provider's stock valued at $2,012,000 after acquiring an additional 7,485 shares during the period. Elevation Point Wealth Partners LLC lifted its position in shares of SK Telecom by 13.0% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 35,308 shares of the Wireless communications provider's stock valued at $751,000 after acquiring an additional 4,051 shares during the period. Blue Trust Inc. lifted its position in shares of SK Telecom by 13.9% during the 1st quarter. Blue Trust Inc. now owns 36,996 shares of the Wireless communications provider's stock valued at $787,000 after acquiring an additional 4,524 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of SK Telecom by 2.7% during the 1st 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.

Analyst Ratings Changes

Several analysts recently weighed in on SKM shares. The Goldman Sachs Group downgraded SK Telecom from a "neutral" rating to a "sell" rating in a research report on Monday, July 7th. Weiss Ratings restated a "hold (c+)" rating on shares of SK Telecom in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, SK Telecom has an average rating of "Hold".

SK Telecom Trading Up 0.3%

Shares of SKM stock opened at $21.58 on Thursday. The stock has a market cap of $8.50 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 10.96 and a beta of 0.58. The stock has a 50-day moving average of $21.96 and a 200-day moving average of $21.82. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.62. SK Telecom Co., Ltd. has a 1-year low of $19.84 and a 1-year high of $24.34.

SK Telecom (NYSE:SKM - Get Free Report) last issued its quarterly earnings results 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 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 8.92%. On average, equities research analysts forecast that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.