XTX Topco Ltd Invests $302,000 in SK Telecom Co., Ltd. (NYSE:SKM)

Key Points

• XTX Topco Ltd has invested $302,000 in SK Telecom Co., Ltd. by acquiring 14,202 shares during the first quarter.
• Multiple institutional investors have increased their holdings in SK Telecom, including Envestnet Asset Management Inc., which raised its position by 87.1%.
• SK Telecom recently experienced a downgrade from several analysts, with JPMorgan reducing its rating from "overweight" to "neutral," reflecting mixed sentiments around the stock's performance.

XTX Topco Ltd bought a new position in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,202 shares of the Wireless communications provider's stock, valued at approximately $302,000.

Other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position 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 worth $3,355,000 after purchasing an additional 73,444 shares during the period. Jane Street Group LLC acquired a new position in shares of SK Telecom during the fourth quarter worth approximately $309,000. Allspring Global Investments Holdings LLC raised its position in shares of SK Telecom by 1.7% during the first 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 period. GAMMA Investing LLC raised its position in shares of SK Telecom by 1,961.9% during the first quarter. GAMMA Investing LLC now owns 62,249 shares of the Wireless communications provider's stock worth $1,323,000 after purchasing an additional 59,230 shares during the period. Finally, Cerity Partners LLC acquired a new position in shares of SK Telecom during the first quarter worth approximately $368,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered SK Telecom from an "overweight" rating to a "neutral" rating in a research report on Monday, May 12th. New Street Research upgraded SK Telecom to a "hold" rating in a report on Monday, May 19th. Wall Street Zen downgraded SK Telecom from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Citigroup downgraded SK Telecom from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group downgraded SK Telecom from a "neutral" rating to a "sell" rating in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

SK Telecom Trading Up 1.1%

Shares of SK Telecom stock opened at $22.64 on Monday. The company has a market capitalization of $8.92 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 9.22 and a beta of 0.63. 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 has a fifty day simple moving average of $22.30 and a 200 day simple moving average of $21.77. SK Telecom Co., Ltd. has a 12-month low of $19.84 and a 12-month high of $24.58.

SK Telecom (NYSE:SKM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.20). The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.14 billion. SK Telecom had a net margin of 5.92% and a return on equity of 8.89%. On average, sell-side analysts anticipate that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal 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.

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