SK Telecom (NYSE:SKM) Shares Gap Down - Here's Why

SK Telecom Co., Ltd. (NYSE:SKM - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $22.43, but opened at $21.02. SK Telecom shares last traded at $20.97, with a volume of 50,949 shares changing hands.

Analysts Set New Price Targets

SKM has been the subject of a number of recent analyst reports. 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. StockNews.com raised SK Telecom from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 18th. Finally, UBS Group started coverage on SK Telecom in a research report on Wednesday, February 19th. They issued a "buy" rating for the company. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy".

SK Telecom Stock Performance

The stock's 50 day moving average is $21.66 and its two-hundred day moving average is $21.96. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of 8.78, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. 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 (NYSE:SKM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The Wireless communications provider reported $0.63 earnings per share (EPS) for the quarter. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. Analysts expect that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SK Telecom

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. increased its position 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 valued at $61,827,000 after acquiring an additional 583,519 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of SK Telecom during the 4th quarter worth approximately $10,712,000. Arrowstreet Capital Limited Partnership raised its stake in shares of SK Telecom by 9.2% during the 4th 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of SK Telecom in the 4th quarter valued at approximately $1,879,000. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of SK Telecom by 41.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 289,356 shares of the Wireless communications provider's stock valued at $6,088,000 after buying an additional 85,278 shares during the last quarter.

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.