Parallel Advisors LLC Purchases 14,770 Shares of SK Telecom Co., Ltd. $SKM

Parallel Advisors LLC grew its position in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 116.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,483 shares of the Wireless communications provider’s stock after buying an additional 14,770 shares during the quarter. Parallel Advisors LLC’s holdings in SK Telecom were worth $805,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC increased its position in shares of SK Telecom by 7,152.5% during the first quarter. NewEdge Advisors LLC now owns 20,017 shares of the Wireless communications provider’s stock valued at $586,000 after acquiring an additional 19,741 shares in the last quarter. Amundi purchased a new stake in SK Telecom during the 1st quarter valued at $360,000. EverSource Wealth Advisors LLC increased its holdings in shares of SK Telecom by 71.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 11,540 shares of the Wireless communications provider’s stock worth $338,000 after purchasing an additional 4,790 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of SK Telecom by 69.7% in the 1st quarter. Royal Bank of Canada now owns 4,853 shares of the Wireless communications provider’s stock worth $142,000 after purchasing an additional 1,994 shares in the last quarter. Finally, Quantinno Capital Management LP raised its stake in shares of SK Telecom by 149.3% in the first quarter. Quantinno Capital Management LP now owns 235,221 shares of the Wireless communications provider’s stock worth $6,890,000 after purchasing an additional 140,858 shares during the last quarter.

SK Telecom Stock Performance

SKM stock opened at $34.22 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 1.15. SK Telecom Co., Ltd. has a 1 year low of $19.66 and a 1 year high of $47.18. The company has a market cap of $13.13 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 0.20 and a beta of 0.64. The stock’s fifty day moving average price is $34.73 and its 200-day moving average price is $33.18.

SK Telecom (NYSE:SKM) last posted its quarterly earnings data on Wednesday, August 5th. The Wireless communications provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates 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 $3.06 billion during the quarter, compared to analysts’ expectations of $2.96 billion. On average, equities analysts forecast that SK Telecom Co., Ltd. will post 2.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. HSBC raised SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. Wall Street Zen raised SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Zacks Research upgraded shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. raised shares of SK Telecom from a “neutral” rating to an “overweight” rating in a report on Thursday, July 16th. Finally, Weiss Ratings lowered shares of SK Telecom from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus 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.