Hsbc Holdings PLC Buys 16,574 Shares of SK Telecom Co., Ltd. $SKM

Hsbc Holdings PLC lifted its stake in SK Telecom Co., Ltd. (NYSE:SKM) by 70.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 39,997 shares of the Wireless communications provider’s stock after buying an additional 16,574 shares during the quarter. Hsbc Holdings PLC’s holdings in SK Telecom were worth $821,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Corient Private Wealth LLC grew its position in SK Telecom by 21.5% during the 4th quarter. Corient Private Wealth LLC now owns 51,730 shares of the Wireless communications provider’s stock valued at $1,062,000 after purchasing an additional 9,147 shares during the last quarter. Groupama Asset Managment lifted its stake in shares of SK Telecom by 1.7% in the fourth quarter. Groupama Asset Managment now owns 25,371 shares of the Wireless communications provider’s stock worth $521,000 after buying an additional 418 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of SK Telecom during the fourth quarter valued at approximately $1,509,000. Millennium Management LLC increased its position in shares of SK Telecom by 202.4% during the fourth quarter. Millennium Management LLC now owns 606,347 shares of the Wireless communications provider’s stock valued at $12,448,000 after acquiring an additional 405,863 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in shares of SK Telecom during the fourth quarter valued at approximately $293,000.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SKM. Wall Street Zen upgraded shares of SK Telecom from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Weiss Ratings downgraded SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Zacks Research raised SK Telecom from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, HSBC upgraded SK Telecom from a “reduce” rating to a “hold” rating in a research note on Thursday, May 7th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

SK Telecom Stock Down 0.3%

SKM opened at $31.42 on Wednesday. The stock has a market capitalization of $12.06 billion, a price-to-earnings ratio of 52.37, a PEG ratio of 0.19 and a beta of 0.63. The firm has a 50 day moving average price of $36.49 and a 200-day moving average price of $31.70. SK Telecom Co., Ltd. has a twelve month low of $19.66 and a twelve month high of $47.18. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.57.

SK Telecom (NYSE:SKM) last issued its earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.10. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. The company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Equities research analysts forecast that SK Telecom Co., Ltd. will post 2.76 earnings per share for the current year.

About SK Telecom

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.