SK Telecom Co., Ltd. $SKM Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its position in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 16.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,193,435 shares of the Wireless communications provider’s stock after acquiring an additional 303,646 shares during the period. Arrowstreet Capital Limited Partnership owned 0.56% of SK Telecom worth $51,217,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its position in 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 worth $39,000 after purchasing an additional 1,585 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of SK Telecom during the first quarter valued at approximately $42,000. Hantz Financial Services Inc. boosted its position in shares of SK Telecom by 315.8% during the second quarter. Hantz Financial Services Inc. now owns 2,216 shares of the Wireless communications provider’s stock worth $52,000 after buying an additional 1,683 shares during the period. Brooklyn Investment Group raised its stake in 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 acquiring an additional 2,059 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in SK Telecom during the 1st quarter worth $85,000.

SK Telecom Stock Performance

Shares of SKM opened at $20.28 on Friday. 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 firm’s 50 day moving average is $20.72 and its 200-day moving average is $21.55. SK Telecom Co., Ltd. has a 12-month low of $19.73 and a 12-month high of $23.80. The stock has a market capitalization of $7.99 billion, a P/E ratio of 30.26, a P/E/G ratio of 2.33 and a beta of 0.51.

SK Telecom (NYSE:SKM) last released its 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). The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $3.08 billion. SK Telecom had a net margin of 3.60% and a return on equity of 5.29%. Equities research analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of SK Telecom in a research note on Monday. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, SK Telecom has a consensus rating of “Hold”.

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.