Schonfeld Strategic Advisors LLC Makes New Investment in SK Telecom Co., Ltd. (NYSE:SKM)

Schonfeld Strategic Advisors LLC acquired a new position in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 20,500 shares of the Wireless communications provider's stock, valued at approximately $431,000.

Several other hedge funds have also added to or reduced their stakes in SKM. Principal Securities Inc. lifted its stake in SK Telecom by 147.7% in the fourth quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider's stock valued at $25,000 after buying an additional 721 shares in the last quarter. Matthews International Capital Management LLC raised its holdings in shares of SK Telecom by 102.5% during the fourth 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 lifted its position in SK Telecom by 34.4% in the 4th quarter. GAMMA Investing LLC now owns 3,019 shares of the Wireless communications provider's stock valued at $64,000 after acquiring an additional 773 shares in the last quarter. Quadrant Capital Group LLC lifted its position in SK Telecom by 15.2% in the 4th quarter. Quadrant Capital Group LLC now owns 5,797 shares of the Wireless communications provider's stock valued at $122,000 after acquiring an additional 764 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in SK Telecom by 130.8% in the 4th quarter. Global Retirement Partners LLC now owns 7,526 shares of the Wireless communications provider's stock worth $158,000 after purchasing an additional 4,265 shares during the period.

SK Telecom Stock Up 1.0%

Shares of NYSE:SKM traded up $0.20 during trading on Friday, hitting $20.52. 186,105 shares of the company were exchanged, compared to its average volume of 344,252. SK Telecom Co., Ltd. has a fifty-two week low of $19.84 and a fifty-two week high of $24.58. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of 8.37, a P/E/G ratio of 1.27 and a beta of 0.63. 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 firm has a fifty day moving average price of $21.48 and a two-hundred day moving average price of $21.83.

SK Telecom (NYSE:SKM - Get Free Report) last issued its earnings results on Monday, May 12th. The Wireless communications provider reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.04. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. As a group, research analysts anticipate that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SKM has been the topic of several research reports. Citigroup cut SK Telecom from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. downgraded shares of SK Telecom from an "overweight" rating to a "neutral" rating in a report on Monday. StockNews.com lowered shares of SK Telecom from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 8th. UBS Group began coverage on shares of SK Telecom in a research report on Wednesday, February 19th. They issued a "buy" rating for the company. Finally, The Goldman Sachs Group cut shares of SK Telecom from a "buy" rating to a "neutral" rating in a research report on Monday, March 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, SK Telecom has an average rating of "Hold".

SK Telecom 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.