QRG Capital Management Inc. Raises Stock Holdings in SK Telecom Co., Ltd. $SKM

QRG Capital Management Inc. lifted its stake in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,238 shares of the Wireless communications provider’s stock after purchasing an additional 1,350 shares during the quarter. QRG Capital Management Inc.’s holdings in SK Telecom were worth $1,080,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Signaturefd LLC raised its stake in shares of SK Telecom by 839.3% during the second quarter. Signaturefd LLC now owns 9,524 shares of the Wireless communications provider’s stock worth $222,000 after purchasing an additional 8,510 shares during the last quarter. Kathmere Capital Management LLC purchased a new stake in shares of SK Telecom during the second quarter worth approximately $340,000. TD Private Client Wealth LLC raised its stake in shares of SK Telecom by 9.6% during the second quarter. TD Private Client Wealth LLC now owns 18,577 shares of the Wireless communications provider’s stock worth $434,000 after purchasing an additional 1,627 shares during the last quarter. Ballentine Partners LLC purchased a new stake in shares of SK Telecom during the second quarter worth approximately $472,000. Finally, CHICAGO TRUST Co NA raised its stake in shares of SK Telecom by 25.0% during the second quarter. CHICAGO TRUST Co NA now owns 16,286 shares of the Wireless communications provider’s stock worth $380,000 after purchasing an additional 3,253 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently commented on SKM. The Goldman Sachs Group cut SK Telecom from a “neutral” rating to a “sell” rating in a research note on Monday, July 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of SK Telecom in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given 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 Up 0.3%

SKM opened at $21.58 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.62. The firm has a market cap of $8.50 billion, a P/E ratio of 11.07, a PEG ratio of 10.96 and a beta of 0.58. SK Telecom Co., Ltd. has a 52 week low of $19.84 and a 52 week high of $24.34. The business’s fifty day simple moving average is $21.96 and its 200 day simple moving average is $21.82.

SK Telecom (NYSE:SKM) last posted its quarterly earnings data on Wednesday, August 6th. The Wireless communications provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.20). SK Telecom had a net margin of 5.92% and a return on equity of 8.92%. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.14 billion. As a group, equities research analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

About SK Telecom

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.