Nordea Investment Management AB Trims Holdings in SK Telecom Co., Ltd. $SKM

Nordea Investment Management AB trimmed its stake in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 6.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 468,164 shares of the Wireless communications provider’s stock after selling 31,563 shares during the quarter. Nordea Investment Management AB’s holdings in SK Telecom were worth $9,611,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its stake in SK Telecom by 16.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,193,435 shares of the Wireless communications provider’s stock worth $51,217,000 after purchasing an additional 303,646 shares during the period. JPMorgan Chase & Co. increased its position in shares of SK Telecom by 236.1% during the second quarter. JPMorgan Chase & Co. now owns 383,123 shares of the Wireless communications provider’s stock valued at $8,946,000 after buying an additional 269,135 shares during the period. Citadel Advisors LLC purchased a new stake in shares of SK Telecom in the third quarter worth about $4,319,000. Creative Planning boosted its position in shares of SK Telecom by 108.0% in the third quarter. Creative Planning now owns 347,750 shares of the Wireless communications provider’s stock valued at $7,511,000 after acquiring an additional 180,581 shares during the period. Finally, Millennium Management LLC boosted its position in shares of SK Telecom by 160.7% in the first 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.

Analyst Ratings Changes

A number of research firms recently weighed in on SKM. Daiwa Securities Group lowered shares of SK Telecom to a “hold” rating in a report on Wednesday, January 14th. Wall Street Zen raised shares of SK Telecom from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Zacks Research upgraded shares of SK Telecom from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. Citigroup cut shares of SK Telecom from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings upgraded SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

SK Telecom Stock Down 1.6%

SKM opened at $30.35 on Thursday. The business’s fifty day simple moving average is $28.65 and its 200 day simple moving average is $23.52. SK Telecom Co., Ltd. has a 52 week low of $19.66 and a 52 week high of $33.71. The company has a quick ratio of 1.00, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock has a market cap of $11.65 billion, a PE ratio of 44.63, a P/E/G ratio of 4.32 and a beta of 0.49.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Thursday, February 5th. The Wireless communications provider reported $10.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $10.57. SK Telecom had a return on equity of 3.21% and a net margin of 2.28%.The firm had revenue of $214.28 billion during the quarter, compared to analyst estimates of $3.02 billion. As a group, research analysts expect that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal 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.