SK Telecom Co., Ltd. $SKM Stake Increased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd grew its stake in SK Telecom Co., Ltd. (NYSE:SKM) by 102.5% during the third quarter, HoldingsChannel.com reports. The firm owned 92,950 shares of the Wireless communications provider’s stock after purchasing an additional 47,042 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in SK Telecom were worth $2,008,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in SK Telecom by 1,780.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,674 shares of the Wireless communications provider’s stock worth $39,000 after buying an additional 1,585 shares during the last quarter. HM Payson & Co. raised its position in shares of SK Telecom by 38.9% during the 3rd quarter. HM Payson & Co. now owns 1,822 shares of the Wireless communications provider’s stock valued at $39,000 after acquiring an additional 510 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in SK Telecom by 315.8% in the second quarter. Hantz Financial Services Inc. now owns 2,216 shares of the Wireless communications provider’s stock worth $52,000 after purchasing an additional 1,683 shares during the period. Cubist Systematic Strategies LLC bought a new stake in SK Telecom during the first quarter valued at $85,000. Finally, Osaic Holdings Inc. raised its holdings in shares of SK Telecom by 408.9% during the second quarter. Osaic Holdings Inc. now owns 4,265 shares of the Wireless communications provider’s stock worth $97,000 after purchasing an additional 3,427 shares during the period.

SK Telecom Trading Down 0.9%

SK Telecom stock opened at $20.91 on Friday. SK Telecom Co., Ltd. has a 52-week low of $19.66 and a 52-week high of $23.80. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of 31.20, a PEG ratio of 0.68 and a beta of 0.49. The firm has a 50-day moving average price of $20.26 and a two-hundred day moving average price of $21.31.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share (EPS) for the quarter. SK Telecom had a return on equity of 5.30% and a net margin of 3.60%. Sell-side analysts expect that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SKM has been the subject of a number of recent research reports. Zacks Research raised shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Daiwa Capital Markets lowered SK Telecom to a “hold” rating in a report on Wednesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of SK Telecom in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

SK Telecom Profile

SK Telecom Co, Ltd. (NYSE:SKM) is South Korea’s largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.