US Bancorp DE Trims Holdings in SK Telecom Co., Ltd. $SKM

US Bancorp DE decreased its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 28.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,453 shares of the Wireless communications provider’s stock after selling 27,500 shares during the period. US Bancorp DE’s holdings in SK Telecom were worth $1,522,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership raised its holdings in shares of SK Telecom by 16.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,193,435 shares of the Wireless communications provider’s stock valued at $51,217,000 after acquiring an additional 303,646 shares in the last quarter. Great Lakes Advisors LLC raised its holdings in SK Telecom by 1.4% in the 3rd quarter. Great Lakes Advisors LLC now owns 1,104,689 shares of the Wireless communications provider’s stock worth $23,861,000 after purchasing an additional 15,036 shares in the last quarter. Bank of America Corp DE lifted its position in shares of SK Telecom by 1.4% in the 2nd quarter. Bank of America Corp DE now owns 809,167 shares of the Wireless communications provider’s stock worth $18,894,000 after purchasing an additional 10,820 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of SK Telecom by 14.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 615,893 shares of the Wireless communications provider’s stock valued at $14,381,000 after purchasing an additional 78,430 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in SK Telecom by 3.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 444,496 shares of the Wireless communications provider’s stock worth $10,379,000 after buying an additional 15,773 shares in the last quarter.

SK Telecom Trading Down 6.8%

NYSE:SKM opened at $29.37 on Friday. The stock has a market cap of $11.27 billion, a price-to-earnings ratio of 43.19, a PEG ratio of 4.41 and a beta of 0.49. 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 company’s 50 day moving average price is $26.22 and its 200-day moving average price is $22.80. SK Telecom Co., Ltd. has a 52 week low of $19.66 and a 52 week high of $33.71.

SK Telecom (NYSE:SKM) last issued its earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) EPS for the quarter. The business had revenue of $2.83 billion for the quarter. SK Telecom had a net margin of 2.28% and a return on equity of 3.21%. On average, equities research analysts forecast that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Citigroup cut SK Telecom from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Daiwa Securities Group cut SK Telecom to a “hold” rating in a research note on Wednesday, January 14th. Wall Street Zen raised SK Telecom from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Zacks Research raised shares of SK Telecom from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of SK Telecom in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, SK Telecom has an average rating of “Reduce”.

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.