PNC Financial Services Group Inc. Increases Stock Holdings in SK Telecom Co., Ltd. $SKM

PNC Financial Services Group Inc. lifted its stake in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 39.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,906 shares of the Wireless communications provider’s stock after buying an additional 14,290 shares during the period. PNC Financial Services Group Inc.’s holdings in SK Telecom were worth $1,045,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SKM. Jones Financial Companies Lllp boosted its position in shares of SK Telecom by 94.2% during the third quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock valued at $29,000 after buying an additional 648 shares during the last quarter. Allworth Financial LP boosted its position in shares of SK Telecom by 138.2% during the third quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock valued at $37,000 after buying an additional 987 shares during the last quarter. Wexford Capital LP purchased a new position in SK Telecom in the third quarter worth $39,000. Matthews International Capital Management LLC boosted its position in SK Telecom by 50.4% in the fourth quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock worth $51,000 after purchasing an additional 835 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in SK Telecom in the first quarter worth $85,000.

SK Telecom Stock Up 1.4%

Shares of NYSE SKM opened at $37.32 on Friday. SK Telecom Co., Ltd. has a one year low of $19.66 and a one year high of $40.49. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.00. The business’s fifty day moving average price is $35.30 and its 200-day moving average price is $28.13. The stock has a market capitalization of $14.32 billion, a PE ratio of 62.20, a P/E/G ratio of 0.23 and a beta of 0.61.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. SK Telecom had a return on equity of 2.84% and a net margin of 2.03%.The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.98 billion. On average, equities research analysts anticipate that SK Telecom Co., Ltd. will post 2.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SKM shares. Weiss Ratings cut SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Bank of America cut SK Telecom from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 18th. Citigroup cut SK Telecom from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. HSBC raised SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, Zacks Research raised SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Four analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, SK Telecom currently has an average rating of “Reduce”.

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.