SK Telecom Co., Ltd. $SKM Shares Sold by Everstar Asset Management LLC

Everstar Asset Management LLC decreased its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 48.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 19,110 shares of the Wireless communications provider’s stock after selling 18,241 shares during the quarter. Everstar Asset Management LLC’s holdings in SK Telecom were worth $392,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SKM. Jones Financial Companies Lllp boosted its stake in shares of SK Telecom by 94.2% during the third quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock worth $29,000 after buying an additional 648 shares during the period. Allworth Financial LP boosted its stake in shares of SK Telecom by 138.2% during the third quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock worth $37,000 after buying an additional 987 shares during the period. Wexford Capital LP acquired a new stake in shares of SK Telecom during the third quarter worth about $39,000. Matthews International Capital Management LLC boosted its stake in shares of SK Telecom by 50.4% during the fourth quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock worth $51,000 after buying an additional 835 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of SK Telecom during the first quarter worth about $85,000.

SK Telecom Price Performance

Shares of NYSE:SKM opened at $38.27 on Friday. 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 has a market cap of $14.69 billion, a P/E ratio of 63.78, a PEG ratio of 0.23 and a beta of 0.61. SK Telecom Co., Ltd. has a 52 week low of $19.66 and a 52 week high of $40.49. The company has a 50-day moving average price of $33.60 and a 200 day moving average price of $26.92.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.98 billion. SK Telecom had a net margin of 2.03% and a return on equity of 2.84%. Research analysts predict that SK Telecom Co., Ltd. will post 2.79 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SKM. Bank of America downgraded shares of SK Telecom from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 18th. Zacks Research downgraded shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Weiss Ratings upgraded shares of SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 12th. Wall Street Zen upgraded shares of SK Telecom from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, HSBC upgraded shares of SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, SK Telecom currently has a consensus 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.