SK Telecom Co., Ltd. (NYSE:SKM) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC lessened its stake in SK Telecom Co., Ltd. (NYSE:SKM) by 21.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,841 shares of the Wireless communications provider’s stock after selling 3,966 shares during the quarter. Bleakley Financial Group LLC’s holdings in SK Telecom were worth $316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Integrated Wealth Concepts LLC lifted its stake in SK Telecom by 3.6% during the fourth quarter. Integrated Wealth Concepts LLC now owns 13,465 shares of the Wireless communications provider’s stock worth $283,000 after purchasing an additional 472 shares in the last quarter. Vident Advisory LLC increased its holdings in SK Telecom by 0.8% in the fourth quarter. Vident Advisory LLC now owns 73,815 shares of the Wireless communications provider’s stock valued at $1,553,000 after buying an additional 610 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in SK Telecom by 15.2% in the fourth quarter. Quadrant Capital Group LLC now owns 5,797 shares of the Wireless communications provider’s stock valued at $122,000 after buying an additional 764 shares during the last quarter. Parallel Advisors LLC increased its holdings 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 buying an additional 884 shares during the last quarter. Finally, Everstar Asset Management LLC grew its holdings in shares of SK Telecom by 8.0% during the fourth quarter. Everstar Asset Management LLC now owns 20,462 shares of the Wireless communications provider’s stock worth $431,000 after purchasing an additional 1,512 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SKM shares. JPMorgan Chase & Co. downgraded shares of SK Telecom from an “overweight” rating to a “neutral” rating in a research note on Monday, May 12th. The Goldman Sachs Group cut shares of SK Telecom from a “neutral” rating to a “sell” rating in a research note on Monday, July 7th. Wall Street Zen cut shares of SK Telecom from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. New Street Research upgraded shares of SK Telecom to a “hold” rating in a research note on Monday, May 19th. Finally, Citigroup cut shares of SK Telecom from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, SK Telecom currently has a consensus rating of “Hold”.

SK Telecom Price Performance

Shares of SK Telecom stock opened at $22.40 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 10.90 and a beta of 0.64. SK Telecom Co., Ltd. has a 1-year low of $19.84 and a 1-year high of $24.58. The firm’s 50-day moving average price is $21.72 and its two-hundred day moving average price is $21.64.

SK Telecom (NYSE:SKM) last issued its quarterly earnings data on Monday, May 12th. The Wireless communications provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. SK Telecom had a net margin of 7.31% and a return on equity of 10.98%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. On average, equities analysts predict that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

SK Telecom Company 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.