Rhumbline Advisers Acquires 7,485 Shares of SK Telecom Co., Ltd. (NYSE:SKM)

Rhumbline Advisers lifted its position in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 8.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,631 shares of the Wireless communications provider’s stock after purchasing an additional 7,485 shares during the period. Rhumbline Advisers’ holdings in SK Telecom were worth $2,012,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership increased its position in shares of SK Telecom by 9.2% during 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 acquiring an additional 133,742 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in SK Telecom in the 4th quarter worth approximately $10,712,000. O Shaughnessy Asset Management LLC boosted its stake in SK Telecom by 41.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 289,356 shares of the Wireless communications provider’s stock valued at $6,088,000 after buying an additional 85,278 shares during the period. Boston Common Asset Management LLC grew its holdings in shares of SK Telecom by 2.1% during the first quarter. Boston Common Asset Management LLC now owns 220,211 shares of the Wireless communications provider’s stock worth $4,682,000 after purchasing an additional 4,454 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of SK Telecom by 13.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 200,931 shares of the Wireless communications provider’s stock worth $4,228,000 after buying an additional 23,091 shares during the last quarter.

Analyst Ratings Changes

Several brokerages recently weighed in on SKM. Wall Street Zen cut SK Telecom from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. cut SK Telecom from an “overweight” rating to a “neutral” rating in a research report on Monday, May 12th. UBS Group assumed coverage on SK Telecom in a research report on Wednesday, February 19th. They set a “buy” rating for the company. The Goldman Sachs Group cut SK Telecom from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Finally, New Street Research raised SK Telecom to a “hold” rating in a research note on Monday, May 19th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold”.

SK Telecom Price Performance

SK Telecom stock opened at $22.36 on Tuesday. SK Telecom Co., Ltd. has a 52-week low of $19.84 and a 52-week high of $24.58. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.48. The firm’s fifty day moving average is $21.38 and its 200 day moving average is $21.55. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 1.27 and a beta of 0.60.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Monday, May 12th. The Wireless communications provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.04. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. Sell-side analysts forecast that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal 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.