Caprock Group LLC Buys Shares of 82,527 SK Telecom Co., Ltd. $SKM

Caprock Group LLC purchased a new position in shares of SK Telecom Co., Ltd. (NYSE:SKM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 82,527 shares of the Wireless communications provider’s stock, valued at approximately $1,804,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership lifted its position in SK Telecom by 16.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,193,435 shares of the Wireless communications provider’s stock valued at $51,217,000 after buying an additional 303,646 shares during the last quarter. Great Lakes Advisors LLC lifted its holdings in shares of SK Telecom by 1.4% in the 3rd quarter. Great Lakes Advisors LLC now owns 1,104,689 shares of the Wireless communications provider’s stock worth $23,861,000 after acquiring an additional 15,036 shares during the last quarter. Bank of America Corp DE boosted its position in shares of SK Telecom by 1.4% during the 2nd quarter. Bank of America Corp DE now owns 809,167 shares of the Wireless communications provider’s stock worth $18,894,000 after purchasing an additional 10,820 shares during the period. BNP Paribas Financial Markets increased its holdings in SK Telecom by 14.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 615,893 shares of the Wireless communications provider’s stock valued at $14,381,000 after purchasing an additional 78,430 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in SK Telecom by 3.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 444,496 shares of the Wireless communications provider’s stock valued at $10,379,000 after purchasing an additional 15,773 shares during the period.

SK Telecom Stock Up 5.8%

Shares of NYSE:SKM opened at $32.57 on Friday. SK Telecom Co., Ltd. has a fifty-two week low of $19.66 and a fifty-two week high of $33.45. The firm’s 50 day moving average price is $23.13 and its 200 day moving average price is $21.95. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The stock has a market cap of $12.50 billion, a price-to-earnings ratio of 47.89, a price-to-earnings-growth ratio of 4.27 and a beta of 0.50.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Friday, December 12th. The Wireless communications provider reported ($0.29) EPS for the quarter. SK Telecom had a net margin of 2.28% and a return on equity of 3.29%. The firm had revenue of $2.83 billion during the quarter. As a group, equities research analysts predict that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on SKM shares. Zacks Research upgraded SK Telecom from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. Weiss Ratings restated a “hold (c)” rating on shares of SK Telecom in a report on Monday, December 29th. Daiwa Securities Group lowered shares of SK Telecom to a “hold” rating in a research note on Wednesday, January 14th. Finally, Wall Street Zen raised shares of SK Telecom from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, SK Telecom currently has an average rating of “Hold”.

About SK Telecom

SK Telecom Co, Ltd. (NYSE:SKM) is South Korea’s largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.