US Bancorp DE Decreases Stake in SK Telecom Co., Ltd. $SKM

US Bancorp DE lessened its stake in SK Telecom Co., Ltd. (NYSE:SKM) by 17.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 97,953 shares of the Wireless communications provider’s stock after selling 21,415 shares during the quarter. US Bancorp DE’s holdings in SK Telecom were worth $2,287,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in shares of SK Telecom by 1,780.9% in 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. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of SK Telecom in the 1st quarter valued at about $37,000. SVB Wealth LLC purchased a new position in shares of SK Telecom in the 1st quarter valued at about $42,000. Brooklyn Investment Group boosted its stake in shares of SK Telecom by 854.4% in 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, Cubist Systematic Strategies LLC purchased a new position in shares of SK Telecom in the 1st quarter valued at about $85,000.

Wall Street Analysts Forecast Growth

SKM has been the topic of several research analyst reports. The Goldman Sachs Group lowered SK Telecom from a “neutral” rating to a “sell” rating in a research report on Monday, July 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of SK Telecom in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

SK Telecom Trading Up 1.5%

Shares of SKM stock opened at $21.24 on Thursday. The business’s 50 day moving average is $21.84 and its two-hundred day moving average is $21.82. SK Telecom Co., Ltd. has a twelve month low of $19.84 and a twelve month high of $24.34. The company has a market capitalization of $8.36 billion, a P/E ratio of 10.89, a price-to-earnings-growth ratio of 10.66 and a beta of 0.58. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.62.

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