Raymond James Financial Inc. Makes New $1.88 Million Investment in SK Telecom Co., Ltd. (NYSE:SKM)

Raymond James Financial Inc. bought a new stake in shares of SK Telecom Co., Ltd. (NYSE:SKM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 89,296 shares of the Wireless communications provider’s stock, valued at approximately $1,879,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted 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 period. Arrowstreet Capital Limited Partnership lifted its stake in SK Telecom by 9.2% in the fourth 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 during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings 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 valued at $6,088,000 after acquiring an additional 85,278 shares during the period. Meritage Portfolio Management increased its stake in shares of SK Telecom by 24.5% in the fourth 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 during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of SK Telecom by 13.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 200,931 shares of the Wireless communications provider’s stock valued at $4,228,000 after acquiring an additional 23,091 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SKM. UBS Group initiated coverage on SK Telecom in a research report on Wednesday, February 19th. They issued a “buy” rating for the company. The Goldman Sachs Group lowered shares of SK Telecom from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Finally, StockNews.com upgraded shares of SK Telecom from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 18th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, SK Telecom currently has an average rating of “Moderate Buy”.

SK Telecom Trading Down 1.4 %

SKM stock opened at $21.30 on Friday. The firm has a fifty day moving average price of $21.69 and a 200 day moving average price of $21.97. SK Telecom Co., Ltd. has a fifty-two week low of $20.28 and a fifty-two week high of $24.58. 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 has a market cap of $8.39 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71.

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

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.