Groupama Asset Managment Purchases New Position in SK Telecom Co., Ltd. $SKM

Groupama Asset Managment purchased a new stake in SK Telecom Co., Ltd. (NYSE:SKM) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 24,519 shares of the Wireless communications provider’s stock, valued at approximately $519,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SKM. Skandinaviska Enskilda Banken AB publ purchased a new stake in SK Telecom in the first quarter valued at $37,000. Brooklyn Investment Group lifted its position in SK Telecom by 854.4% in the first quarter. Brooklyn Investment Group now owns 2,300 shares of the Wireless communications provider’s stock valued at $49,000 after acquiring an additional 2,059 shares during the last quarter. Parallel Advisors LLC lifted its position in SK Telecom by 55.0% in the first quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider’s stock valued at $53,000 after acquiring an additional 884 shares during the last quarter. TD Asset Management Inc purchased a new stake in SK Telecom in the first quarter valued at $212,000. Finally, Callan Family Office LLC purchased a new stake in SK Telecom in the first quarter valued at $212,000.

SK Telecom Trading Down 1.6%

Shares of SK Telecom stock opened at $22.0450 on Friday. SK Telecom Co., Ltd. has a 52-week low of $19.84 and a 52-week high of $24.58. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.55. The company’s 50-day simple moving average is $22.49 and its 200-day simple moving average is $21.82. The firm has a market cap of $8.68 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 9.12 and a beta of 0.63.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.20). SK Telecom had a return on equity of 8.89% and a net margin of 5.92%.The firm 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 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SKM shares. Wall Street Zen cut shares of SK Telecom from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. The Goldman Sachs Group cut shares of SK Telecom from a “neutral” rating to a “sell” rating in a report on Monday, July 7th. JPMorgan Chase & Co. cut shares of SK Telecom from an “overweight” rating to a “neutral” rating in a report on Monday, May 12th. Citigroup cut shares of SK Telecom from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. Finally, New Street Research raised shares of SK Telecom to a “hold” rating in a report on Monday, May 19th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.

SK Telecom Profile

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.