Nykredit A S Takes Position in SK Telecom Co., Ltd. $SKM

Nykredit A S purchased a new stake in SK Telecom Co., Ltd. (NYSE:SKM) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 450,102 shares of the Wireless communications provider’s stock, valued at approximately $14,475,000. Nykredit A S owned 0.12% of SK Telecom as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Royal Bank of Canada grew its position in SK Telecom by 8.2% in the first quarter. Royal Bank of Canada now owns 43,999 shares of the Wireless communications provider’s stock valued at $936,000 after purchasing an additional 3,316 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in SK Telecom in the first quarter valued at approximately $85,000. Millennium Management LLC raised its stake in 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 acquiring an additional 139,829 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of SK Telecom by 46.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider’s stock worth $5,531,000 after buying an additional 83,030 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in SK Telecom by 10.8% during the second quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock worth $134,000 after acquiring an additional 560 shares during the last quarter.

SK Telecom Stock Up 3.6%

Shares of SKM opened at $38.63 on Friday. The stock has a fifty day moving average of $34.76 and a 200-day moving average of $34.68. SK Telecom Co., Ltd. has a 52 week low of $19.66 and a 52 week high of $47.18. The stock has a market capitalization of $14.82 billion, a price-to-earnings ratio of 30.90 and a beta of 0.67. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 1.18.

SK Telecom (NYSE:SKM) last released its quarterly earnings data on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.22. SK Telecom had a return on equity of 5.59% and a net margin of 4.23%.The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.96 billion. As a group, sell-side analysts anticipate that SK Telecom Co., Ltd. will post 2.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SKM. Weiss Ratings raised shares of SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. raised shares of SK Telecom from a “neutral” rating to an “overweight” rating in a report on Thursday, July 16th. Zacks Research cut shares of SK Telecom from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, August 27th. Finally, Wall Street Zen raised SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

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.