SK Telecom Co., Ltd. $SKM Stock Position Lowered by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 20.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,214 shares of the Wireless communications provider’s stock after selling 31,575 shares during the quarter. Envestnet Asset Management Inc.’s holdings in SK Telecom were worth $2,947,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Probity Advisors Inc. lifted its holdings in SK Telecom by 2.3% in the 2nd quarter. Probity Advisors Inc. now owns 29,505 shares of the Wireless communications provider’s stock valued at $689,000 after acquiring an additional 676 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of SK Telecom by 43.5% in the 2nd quarter. GAMMA Investing LLC now owns 4,202 shares of the Wireless communications provider’s stock worth $98,000 after purchasing an additional 1,274 shares in the last quarter. PDS Planning Inc lifted its stake in SK Telecom by 11.3% during the second quarter. PDS Planning Inc now owns 12,550 shares of the Wireless communications provider’s stock valued at $293,000 after purchasing an additional 1,276 shares during the last quarter. QRG Capital Management Inc. lifted its stake in SK Telecom by 3.0% during the second quarter. QRG Capital Management Inc. now owns 46,238 shares of the Wireless communications provider’s stock valued at $1,080,000 after purchasing an additional 1,350 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in 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 worth $39,000 after buying an additional 1,585 shares in the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of SK Telecom in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold”.

SK Telecom Stock Performance

SK Telecom stock opened at $20.36 on Friday. SK Telecom Co., Ltd. has a fifty-two week low of $19.84 and a fifty-two week high of $24.34. The firm’s 50 day simple moving average is $21.20 and its 200-day simple moving average is $21.64. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.01. The company has a market cap of $8.02 billion, a P/E ratio of 10.44, a price-to-earnings-growth ratio of 15.17 and a beta of 0.56.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Thursday, October 30th. The Wireless communications provider reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.56). SK Telecom had a net margin of 5.92% and a return on equity of 8.92%. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $3.08 billion. As a group, equities research analysts predict 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.