Arrowpoint Investment Partners Singapore Pte. Ltd. Invests $1.42 Million in SK Telecom Co., Ltd. $SKM

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in SK Telecom Co., Ltd. (NYSE:SKM) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 65,528 shares of the Wireless communications provider’s stock, valued at approximately $1,415,000. SK Telecom accounts for approximately 1.4% of Arrowpoint Investment Partners Singapore Pte. Ltd.’s holdings, making the stock its 21st largest holding.

A number of other large investors have also added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership increased its position in SK Telecom by 16.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,193,435 shares of the Wireless communications provider’s stock valued at $51,217,000 after purchasing an additional 303,646 shares during the period. JPMorgan Chase & Co. lifted its position in shares of SK Telecom by 236.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 383,123 shares of the Wireless communications provider’s stock worth $8,946,000 after purchasing an additional 269,135 shares during the period. Creative Planning boosted its stake in shares of SK Telecom by 600.0% in the 2nd quarter. Creative Planning now owns 167,169 shares of the Wireless communications provider’s stock valued at $3,903,000 after purchasing an additional 143,287 shares during the last quarter. Millennium Management LLC boosted its stake in shares of SK Telecom by 160.7% in the 1st quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock valued at $4,823,000 after purchasing an additional 139,829 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of SK Telecom by 1,406.1% during the second quarter. Quadrant Capital Group LLC now owns 108,303 shares of the Wireless communications provider’s stock worth $2,529,000 after buying an additional 101,112 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SKM shares. Citigroup lowered shares of SK Telecom from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Wall Street Zen raised SK Telecom from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Bank of America downgraded SK Telecom from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 18th. Weiss Ratings upgraded SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Finally, Daiwa Securities Group cut SK Telecom to a “hold” rating in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, SK Telecom currently has an average rating of “Hold”.

SK Telecom Price Performance

SK Telecom stock opened at $28.04 on Friday. The business’s 50 day simple moving average is $27.23 and its 200 day simple moving average is $23.08. SK Telecom Co., Ltd. has a 12 month low of $19.66 and a 12 month high of $33.71. The company has a market cap of $10.76 billion, a price-to-earnings ratio of 41.23, a PEG ratio of 3.95 and a beta of 0.49. 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 (NYSE:SKM) last issued its earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share (EPS) for the quarter. SK Telecom had a net margin of 2.28% and a return on equity of 3.21%. The firm had revenue of $2.83 billion during the quarter. Sell-side analysts forecast that SK Telecom Co., Ltd. will post 2.27 EPS for the current year.

SK Telecom Profile

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.