First Trust Advisors LP bought a new position in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 15,191 shares of the Wireless communications provider's stock, valued at approximately $320,000.
Several other hedge funds also recently added to or reduced their stakes in the stock. Principal Securities Inc. grew its stake in SK Telecom by 147.7% during the 4th quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider's stock valued at $25,000 after acquiring an additional 721 shares in the last quarter. Matthews International Capital Management LLC lifted its holdings in shares of SK Telecom by 102.5% during the 4th quarter. Matthews International Capital Management LLC now owns 2,550 shares of the Wireless communications provider's stock worth $54,000 after acquiring an additional 1,291 shares during the period. GAMMA Investing LLC increased its position in shares of SK Telecom by 34.4% during the 4th quarter. GAMMA Investing LLC now owns 3,019 shares of the Wireless communications provider's stock worth $64,000 after purchasing an additional 773 shares in the last quarter. Quadrant Capital Group LLC grew its position in SK Telecom by 15.2% during the 4th quarter. Quadrant Capital Group LLC now owns 5,797 shares of the Wireless communications provider's stock worth $122,000 after acquiring an additional 764 shares during the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of SK Telecom by 130.8% in the fourth quarter. Global Retirement Partners LLC now owns 7,526 shares of the Wireless communications provider's stock valued at $158,000 after purchasing an additional 4,265 shares in the last quarter.
Analyst Ratings Changes
SKM has been the topic of a number of research analyst reports. Citigroup lowered shares of SK Telecom from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. UBS Group initiated coverage on SK Telecom in a research note on Wednesday, February 19th. They set a "buy" rating on the stock. JPMorgan Chase & Co. downgraded shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research note on Monday. StockNews.com cut shares of SK Telecom from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group downgraded shares of SK Telecom from a "buy" rating to a "neutral" rating in a report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold".
Read Our Latest Research Report on SKM
SK Telecom Stock Up 0.8%
Shares of NYSE:SKM traded up $0.17 during midday trading on Thursday, reaching $20.26. The company's stock had a trading volume of 97,091 shares, compared to its average volume of 283,254. The firm has a 50 day moving average of $21.50 and a 200-day moving average of $21.85. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $7.98 billion, a P/E ratio of 8.27, a PEG ratio of 1.27 and a beta of 0.63. 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 issued its quarterly earnings results on Monday, May 12th. The Wireless communications provider reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.04. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. The business had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.12 billion. On average, research analysts anticipate that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.
About SK Telecom
(
Free Report)
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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