Everstar Asset Management LLC Cuts Stock Holdings in SK Telecom Co., Ltd. $SKM

Everstar Asset Management LLC lowered its stake in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 48.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,110 shares of the Wireless communications provider’s stock after selling 18,241 shares during the quarter. Everstar Asset Management LLC’s holdings in SK Telecom were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Boston Common Asset Management LLC increased its position in shares of SK Telecom by 83.1% during the fourth quarter. Boston Common Asset Management LLC now owns 362,424 shares of the Wireless communications provider’s stock worth $7,441,000 after acquiring an additional 164,472 shares during the period. Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in shares of SK Telecom during the third quarter worth $1,415,000. Caprock Group LLC purchased a new stake in shares of SK Telecom during the third quarter worth $1,804,000. Teachers Retirement System of The State of Kentucky grew its stake in shares of SK Telecom by 18.2% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 221,300 shares of the Wireless communications provider’s stock worth $4,543,000 after purchasing an additional 34,100 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of SK Telecom by 17.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock worth $50,561,000 after purchasing an additional 374,428 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SKM shares. Wall Street Zen upgraded shares of SK Telecom from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Citigroup downgraded shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Weiss Ratings upgraded shares of SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 12th. HSBC upgraded shares of SK Telecom from a “reduce” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, Bank of America downgraded shares of SK Telecom from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

SK Telecom Stock Performance

NYSE SKM opened at $38.27 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.00. SK Telecom Co., Ltd. has a 1 year low of $19.66 and a 1 year high of $40.49. The company has a market capitalization of $14.69 billion, a PE ratio of 63.78, a P/E/G ratio of 0.23 and a beta of 0.61. The company has a fifty day moving average of $33.60 and a two-hundred day moving average of $26.92.

SK Telecom (NYSE:SKM) last released its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.10. SK Telecom had a net margin of 2.03% and a return on equity of 2.84%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.98 billion. As a group, analysts expect that SK Telecom Co., Ltd. will post 2.79 earnings per share for the current 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.