WINTON GROUP Ltd Acquires Shares of 30,000 SK Telecom Co., Ltd. $SKM

Key Points

• WINTON GROUP Ltd acquired 30,000 SK Telecom shares in the second quarter, valued at approximately $965,000. Other institutional investors, including Millennium Management and Goldman Sachs, also increased their positions.
• SK Telecom reported quarterly earnings of $0.81 per share, exceeding estimates of $0.59, while revenue of $2.81 billion fell short of the $2.96 billion consensus forecast.
• SKM opened at $37.84, with a market capitalization of $14.52 billion. Analyst sentiment remains mixed, with a consensus “Reduce” rating despite JPMorgan upgrading the stock to overweight.

WINTON GROUP Ltd bought a new position in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 30,000 shares of the Wireless communications provider's stock, valued at approximately $965,000.

Other large investors have also modified their holdings of the company. Royal Bank of Canada boosted its stake in shares of SK Telecom by 8.2% in the first quarter. Royal Bank of Canada now owns 43,999 shares of the Wireless communications provider's stock valued at $936,000 after buying an additional 3,316 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in SK Telecom in the first quarter worth $85,000. Millennium Management LLC raised its position in SK Telecom by 160.7% in the first quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider's stock worth $4,823,000 after acquiring an additional 139,829 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in SK Telecom by 46.9% in the first quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider's stock valued at $5,531,000 after acquiring an additional 83,030 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in SK Telecom by 10.8% in the second quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider's stock valued at $134,000 after acquiring an additional 560 shares during the period.

SK Telecom Stock Down 0.1%

SKM opened at $37.84 on Monday. The business's fifty day moving average is $35.35 and its two-hundred day moving average is $34.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 1.18. The company has a market cap of $14.52 billion, a price-to-earnings ratio of 30.27 and a beta of 0.67. SK Telecom Co., Ltd. has a one year low of $19.66 and a one year high of $47.18.

SK Telecom (NYSE:SKM - Get Free Report) last posted its earnings results on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.22. SK Telecom had a return on equity of 5.59% and a net margin of 4.23%.The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.96 billion. Analysts anticipate that SK Telecom Co., Ltd. will post 2.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Weiss Ratings raised shares of SK Telecom from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 13th. Wall Street Zen upgraded shares of SK Telecom from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. Zacks Research downgraded shares of SK Telecom from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, August 27th. Finally, JPMorgan Chase & Co. raised shares of SK Telecom from a "neutral" rating to an "overweight" rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, SK Telecom has a consensus rating of "Reduce".

SK Telecom Company Profile

SK Telecom Co, Ltd. is a South Korean telecommunications company that provides mobile communications, broadband internet, and media services. Its offerings include wireless voice and data plans, 5G connectivity, fixed-line broadband, internet protocol television, and related digital services for consumers and businesses.

The company also develops enterprise technology solutions in areas such as artificial intelligence, cloud computing, data centers, cybersecurity, and connected devices.

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