Ethic Inc. Boosts Stock Position in SK Telecom Co., Ltd. (NYSE:SKM)

Ethic Inc. increased its stake in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 28.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,259 shares of the Wireless communications provider's stock after purchasing an additional 16,941 shares during the quarter. Ethic Inc.'s holdings in SK Telecom were worth $1,604,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its holdings in SK Telecom by 24.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,938,528 shares of the Wireless communications provider's stock valued at $61,827,000 after buying an additional 583,519 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of SK Telecom during the fourth quarter valued at $10,712,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of SK Telecom by 9.2% during 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 purchasing an additional 133,742 shares during the period. Raymond James Financial Inc. bought a new stake in shares of SK Telecom in the fourth quarter worth $1,879,000. Finally, O Shaughnessy Asset Management LLC increased its holdings in 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 valued at $6,088,000 after purchasing an additional 85,278 shares during the period.

SK Telecom Trading Up 1.3%

NYSE SKM traded up $0.26 during trading hours on Friday, hitting $20.58. 621,299 shares of the company's stock were exchanged, compared to its average volume of 286,073. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 1.27 and a beta of 0.63. The stock has a 50-day simple moving average of $21.48 and a 200 day simple moving average of $21.83. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48. SK Telecom Co., Ltd. has a 1-year low of $19.84 and a 1-year high of $24.58.

SK Telecom (NYSE:SKM - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The Wireless communications provider reported $0.65 earnings per share (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 firm had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.12 billion. On average, equities analysts forecast that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.