Public Employees Retirement System of Ohio Sells 2,318 Shares of SK Telecom Co., Ltd. $SKM

Public Employees Retirement System of Ohio cut its holdings in SK Telecom Co., Ltd. (NYSE:SKM) by 5.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,781 shares of the Wireless communications provider’s stock after selling 2,318 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in SK Telecom were worth $929,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ bought a new position in shares of SK Telecom during the 1st quarter valued at $37,000. Farther Finance Advisors LLC lifted its holdings in shares of SK Telecom by 1,780.9% during the 2nd 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 position in shares of SK Telecom during the 1st quarter valued at $42,000. Brooklyn Investment Group lifted its holdings in shares of SK Telecom by 854.4% during the 1st 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 lifted its holdings in shares of SK Telecom by 55.0% during the 1st 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.

SK Telecom Trading Down 0.3%

Shares of SKM stock opened at $21.68 on Friday. SK Telecom Co., Ltd. has a 52-week low of $19.84 and a 52-week high of $24.34. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.01 and a current ratio of 1.03. The firm has a market capitalization of $8.54 billion, a PE ratio of 11.12, a PEG ratio of 11.04 and a beta of 0.58. The stock has a fifty day simple moving average of $21.99 and a two-hundred day simple moving average of $21.82.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.20). SK Telecom had a return on equity of 8.92% and a net margin of 5.92%.The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.14 billion. On average, analysts predict that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SKM shares. Weiss Ratings reissued a “hold (c+)” rating on shares of SK Telecom in a report on Saturday, September 27th. The Goldman Sachs Group lowered SK Telecom from a “neutral” rating to a “sell” rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

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.