First Trust Advisors LP Invests $320,000 in SK Telecom Co., Ltd. (NYSE:SKM)

First Trust Advisors LP acquired a new stake in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 15,191 shares of the Wireless communications provider's stock, valued at approximately $320,000.

A number of other hedge funds have also made changes to their positions in the stock. Robeco Institutional Asset Management B.V. increased its stake in shares of SK Telecom by 24.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,938,528 shares of the Wireless communications provider's stock worth $61,827,000 after acquiring an additional 583,519 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of SK Telecom by 9.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,595,390 shares of the Wireless communications provider's stock worth $33,567,000 after acquiring an additional 133,742 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of SK Telecom by 41.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 289,356 shares of the Wireless communications provider's stock worth $6,088,000 after acquiring an additional 85,278 shares during the last quarter. Meritage Portfolio Management increased its stake in shares of SK Telecom by 24.5% in the fourth quarter. Meritage Portfolio Management now owns 222,170 shares of the Wireless communications provider's stock worth $4,674,000 after acquiring an additional 43,778 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of SK Telecom by 13.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 200,931 shares of the Wireless communications provider's stock worth $4,228,000 after acquiring an additional 23,091 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have commented on SKM shares. JPMorgan Chase & Co. downgraded shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research report on Monday. The Goldman Sachs Group lowered shares of SK Telecom from a "buy" rating to a "neutral" rating in a research note on Monday, March 3rd. Citigroup lowered shares of SK Telecom from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. StockNews.com lowered shares of SK Telecom from a "strong-buy" rating to a "buy" rating in a research note on Thursday. Finally, UBS Group started coverage on shares of SK Telecom in a research note on Wednesday, February 19th. They issued a "buy" rating for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold".

SK Telecom Stock Performance

SKM traded down $0.67 during trading on Monday, hitting $20.12. The stock had a trading volume of 682,992 shares, compared to its average volume of 281,204. The firm has a market cap of $7.92 billion, a PE ratio of 8.21, a P/E/G ratio of 1.27 and a beta of 0.63. SK Telecom Co., Ltd. has a 12 month low of $20.07 and a 12 month high of $24.58. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48. The company has a 50 day simple moving average of $21.59 and a 200-day simple moving average of $21.89.

SK Telecom (NYSE:SKM - Get Free Report) last announced its earnings results on Wednesday, May 14th. The Wireless communications provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.61 by $0.04. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. Analysts expect that SK Telecom Co., Ltd. will post 2.27 EPS for the current year.

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.