SK Telecom Co., Ltd. (NYSE:SKM) Sees Large Decrease in Short Interest

SK Telecom Co., Ltd. (NYSE:SKM - Get Free Report) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 736,000 shares, a decline of 31.2% from the April 30th total of 1,070,000 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 425,700 shares, the short-interest ratio is presently 1.7 days.

Hedge Funds Weigh In On SK Telecom

Institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers grew its holdings in shares of SK Telecom by 30.8% during the 4th quarter. Rhumbline Advisers now owns 87,146 shares of the Wireless communications provider's stock valued at $1,834,000 after acquiring an additional 20,506 shares in the last quarter. US Bancorp DE boosted its holdings in SK Telecom by 27.8% in the fourth quarter. US Bancorp DE now owns 93,295 shares of the Wireless communications provider's stock worth $1,963,000 after purchasing an additional 20,285 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in 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 worth $158,000 after purchasing an additional 4,265 shares in the last quarter. Capital Wealth Planning LLC boosted its holdings in SK Telecom by 55.6% in the fourth quarter. Capital Wealth Planning LLC now owns 93,417 shares of the Wireless communications provider's stock worth $1,965,000 after purchasing an additional 33,392 shares in the last quarter. Finally, Meritage Portfolio Management boosted its holdings in 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 purchasing an additional 43,778 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SKM shares. New Street Research upgraded SK Telecom to a "hold" rating in a research report on Monday, May 19th. Citigroup downgraded SK Telecom from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. UBS Group started coverage on SK Telecom in a research report on Wednesday, February 19th. They issued a "buy" rating for the company. Wall Street Zen downgraded SK Telecom from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. downgraded SK Telecom from an "overweight" rating to a "neutral" rating in a research report on Monday, May 12th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold".

SK Telecom Price Performance

Shares of NYSE SKM traded up $0.09 during trading on Thursday, hitting $21.27. The company had a trading volume of 302,122 shares, compared to its average volume of 291,425. The company has a market cap of $8.38 billion, a P/E ratio of 8.68, a PEG ratio of 1.27 and a beta of 0.63. SK Telecom has a 52 week low of $19.84 and a 52 week high of $24.58. The business's 50-day moving average is $21.28 and its 200 day moving average is $21.65. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.91.

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, beating the consensus estimate of $0.61 by $0.04. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. The company had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.12 billion. Equities research analysts predict that SK Telecom 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.