OVERSEA CHINESE BANKING Corp Ltd Acquires 43,053 Shares of SK Telecom Co., Ltd. $SKM

OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 46.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,003 shares of the Wireless communications provider’s stock after purchasing an additional 43,053 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in SK Telecom were worth $2,792,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SKM. Robeco Institutional Asset Management B.V. increased its stake in SK Telecom by 17.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock valued at $50,561,000 after purchasing an additional 374,428 shares in the last quarter. Citadel Advisors LLC bought a new stake in SK Telecom during the 3rd quarter valued at $4,319,000. Creative Planning increased its stake in SK Telecom by 108.0% during the 3rd quarter. Creative Planning now owns 347,750 shares of the Wireless communications provider’s stock valued at $7,511,000 after purchasing an additional 180,581 shares in the last quarter. Boston Common Asset Management LLC increased its stake in SK Telecom by 83.1% during the 4th quarter. Boston Common Asset Management LLC now owns 362,424 shares of the Wireless communications provider’s stock valued at $7,441,000 after purchasing an additional 164,472 shares in the last quarter. Finally, Millennium Management LLC increased its stake in SK Telecom by 160.7% during the 1st quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock valued at $4,823,000 after purchasing an additional 139,829 shares in the last quarter.

SK Telecom Stock Performance

NYSE SKM opened at $38.85 on Thursday. SK Telecom Co., Ltd. has a 1 year low of $19.66 and a 1 year high of $40.49. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.00. The firm has a market cap of $14.91 billion, a price-to-earnings ratio of 57.14, a PEG ratio of 0.25 and a beta of 0.46. The company has a fifty day moving average price of $31.65 and a 200-day moving average price of $25.19.

SK Telecom (NYSE:SKM) last posted its 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. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.02 billion. SK Telecom had a net margin of 2.28% and a return on equity of 3.21%. As a group, equities research analysts predict that SK Telecom Co., Ltd. will post 2.68 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Bank of America lowered shares of SK Telecom from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 18th. Citigroup lowered shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Wall Street Zen upgraded shares of SK Telecom from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Daiwa Securities Group lowered shares of SK Telecom to a “hold” rating in a research note on Wednesday, January 14th. Finally, Zacks Research lowered shares of SK Telecom from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

SK Telecom Company 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.