SK Telecom Co., Ltd. $SKM Shares Bought by Ethic Inc.

Ethic Inc. increased its position in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 57.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 90,560 shares of the Wireless communications provider’s stock after buying an additional 32,989 shares during the quarter. Ethic Inc.’s holdings in SK Telecom were worth $1,859,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ballentine Partners LLC lifted its position in shares of SK Telecom by 3.7% during the 4th quarter. Ballentine Partners LLC now owns 24,182 shares of the Wireless communications provider’s stock valued at $496,000 after buying an additional 857 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in SK Telecom by 26.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 87,862 shares of the Wireless communications provider’s stock worth $1,804,000 after acquiring an additional 18,463 shares in the last quarter. Manske Wealth Management raised its position in SK Telecom by 8.2% during the fourth quarter. Manske Wealth Management now owns 12,040 shares of the Wireless communications provider’s stock worth $247,000 after acquiring an additional 913 shares during the period. R Squared Ltd purchased a new position in SK Telecom during the fourth quarter valued at $246,000. Finally, UBS Group AG lifted its holdings in SK Telecom by 215.4% during the fourth quarter. UBS Group AG now owns 426,729 shares of the Wireless communications provider’s stock valued at $8,761,000 after purchasing an additional 291,418 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Citigroup cut shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Weiss Ratings raised shares of SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 12th. HSBC upgraded SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Daiwa Securities Group cut SK Telecom to a “hold” rating in a report on Wednesday, January 14th. Finally, Zacks Research lowered SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

SK Telecom Stock Down 0.0%

Shares of NYSE:SKM opened at $39.09 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $33.09 and a two-hundred day moving average of $26.59. The stock has a market cap of $15.00 billion, a P/E ratio of 65.16, a PEG ratio of 0.24 and a beta of 0.61. SK Telecom Co., Ltd. has a 52-week low of $19.66 and a 52-week high of $40.49.

SK Telecom (NYSE:SKM) last posted its quarterly earnings results on Thursday, May 7th. The Wireless communications provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.47 by $0.10. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.98 billion. SK Telecom had a return on equity of 2.84% and a net margin of 2.03%. On average, research analysts expect that SK Telecom Co., Ltd. will post 2.79 earnings per share for the current year.

SK Telecom Company 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.