Envestnet Asset Management Inc. Buys 40,640 Shares of SK Telecom Co., Ltd. (NYSE:SKM)

Envestnet Asset Management Inc. boosted its stake in SK Telecom Co., Ltd. (NYSE:SKM) by 93.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,345 shares of the Wireless communications provider’s stock after acquiring an additional 40,640 shares during the quarter. Envestnet Asset Management Inc.’s holdings in SK Telecom were worth $1,775,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. lifted its position in SK Telecom by 24.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,938,528 shares of the Wireless communications provider’s stock worth $61,827,000 after buying an additional 583,519 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in 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 buying an additional 133,742 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in SK Telecom by 41.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 289,356 shares of the Wireless communications provider’s stock worth $6,088,000 after buying an additional 85,278 shares in the last quarter. Meritage Portfolio Management lifted its position in SK Telecom by 24.5% during the 4th quarter. Meritage Portfolio Management now owns 222,170 shares of the Wireless communications provider’s stock worth $4,674,000 after buying an additional 43,778 shares in the last quarter. Finally, DGS Capital Management LLC lifted its position in SK Telecom by 14.7% during the 3rd quarter. DGS Capital Management LLC now owns 212,324 shares of the Wireless communications provider’s stock worth $5,047,000 after buying an additional 27,173 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SKM. StockNews.com raised shares of SK Telecom from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 18th. The Goldman Sachs Group cut shares of SK Telecom from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Finally, UBS Group assumed coverage on shares of SK Telecom in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. Three research 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 company. According to MarketBeat.com, SK Telecom presently has a consensus rating of “Moderate Buy”.

SK Telecom Stock Down 5.7 %

Shares of SKM stock opened at $21.15 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.91. The firm’s 50-day moving average is $21.78 and its 200-day moving average is $22.00. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 1.27 and a beta of 0.71. SK Telecom Co., Ltd. has a 52-week low of $20.28 and a 52-week high of $24.58.

SK Telecom (NYSE:SKM) last issued its earnings results on Wednesday, February 12th. The Wireless communications provider reported $0.63 earnings per share (EPS) for the quarter. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. Sell-side analysts predict that SK Telecom Co., Ltd. will post 2.27 EPS for the current year.

SK Telecom 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.