Envestnet Asset Management Inc. Trims Holdings in SK Telecom Co., Ltd. $SKM

Envestnet Asset Management Inc. lowered its position in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 72.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,249 shares of the Wireless communications provider’s stock after selling 90,965 shares during the quarter. Envestnet Asset Management Inc.’s holdings in SK Telecom were worth $761,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SKM. Jones Financial Companies Lllp lifted its stake in shares of SK Telecom by 94.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock valued at $29,000 after buying an additional 648 shares in the last quarter. HM Payson & Co. lifted its position in shares of SK Telecom by 38.9% in the third quarter. HM Payson & Co. now owns 1,822 shares of the Wireless communications provider’s stock valued at $39,000 after acquiring an additional 510 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of SK Telecom by 315.8% in the second quarter. Hantz Financial Services Inc. now owns 2,216 shares of the Wireless communications provider’s stock worth $52,000 after acquiring an additional 1,683 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of SK Telecom by 72.2% in the third quarter. Farther Finance Advisors LLC now owns 2,883 shares of the Wireless communications provider’s stock worth $62,000 after acquiring an additional 1,209 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of SK Telecom during the first quarter worth about $85,000.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Bank of America downgraded SK Telecom from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 18th. Daiwa Securities Group lowered shares of SK Telecom to a “hold” rating in a research report on Wednesday, January 14th. Zacks Research upgraded shares of SK Telecom from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. Weiss Ratings reissued a “hold (c)” rating on shares of SK Telecom in a report on Monday, December 29th. Finally, Citigroup lowered SK Telecom from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

SK Telecom Stock Up 7.6%

Shares of NYSE SKM opened at $31.51 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. SK Telecom Co., Ltd. has a 12-month low of $19.66 and a 12-month high of $33.71. The firm’s 50-day moving average price is $26.04 and its 200-day moving average price is $22.75. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 46.34, a P/E/G ratio of 4.10 and a beta of 0.49.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) EPS for the quarter. SK Telecom had a return on equity of 3.21% and a net margin of 2.28%.The company had revenue of $2.83 billion during the quarter. On average, equities research analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

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.