GAMMA Investing LLC Increases Stake in SK Telecom Co., Ltd. $SKM

GAMMA Investing LLC raised its stake in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 43.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,202 shares of the Wireless communications provider’s stock after buying an additional 1,274 shares during the quarter. GAMMA Investing LLC’s holdings in SK Telecom were worth $98,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SKM. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of SK Telecom during the first quarter valued at about $37,000. Farther Finance Advisors LLC increased its position in shares of SK Telecom by 1,780.9% during the second quarter. Farther Finance Advisors LLC now owns 1,674 shares of the Wireless communications provider’s stock valued at $39,000 after buying an additional 1,585 shares during the period. SVB Wealth LLC bought a new stake in shares of SK Telecom during the first quarter valued at about $42,000. Brooklyn Investment Group increased its position in shares of SK Telecom by 854.4% during the first quarter. Brooklyn Investment Group now owns 2,300 shares of the Wireless communications provider’s stock valued at $49,000 after buying an additional 2,059 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of SK Telecom by 55.0% during the first quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider’s stock valued at $53,000 after buying an additional 884 shares during the period.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group cut SK Telecom from a “neutral” rating to a “sell” rating in a research report on Monday, July 7th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, SK Telecom has a consensus rating of “Hold”.

SK Telecom Stock Up 0.2%

SKM stock opened at $21.64 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $22.02 and its 200 day moving average is $21.82. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 11.00 and a beta of 0.58. SK Telecom Co., Ltd. has a 1-year low of $19.84 and a 1-year high of $24.34.

SK Telecom (NYSE:SKM) last issued its earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.20). The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.14 billion. SK Telecom had a return on equity of 8.92% and a net margin of 5.92%. Sell-side analysts predict 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.