Sequoia Financial Advisors LLC Raises Stock Position in SK Telecom Co., Ltd. $SKM

Sequoia Financial Advisors LLC increased its stake in SK Telecom Co., Ltd. (NYSE:SKM) by 181.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 55,418 shares of the Wireless communications provider’s stock after acquiring an additional 35,693 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in SK Telecom were worth $1,294,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. increased its holdings in SK Telecom by 2.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 3,018,570 shares of the Wireless communications provider’s stock worth $64,175,000 after acquiring an additional 80,042 shares in the last quarter. Citigroup Inc. increased its holdings in SK Telecom by 55.5% in the 1st quarter. Citigroup Inc. now owns 1,202,830 shares of the Wireless communications provider’s stock worth $25,572,000 after acquiring an additional 429,434 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in SK Telecom by 1.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,062,667 shares of the Wireless communications provider’s stock worth $22,518,000 after acquiring an additional 17,718 shares in the last quarter. Great Lakes Advisors LLC increased its holdings in SK Telecom by 543.6% in the 1st quarter. Great Lakes Advisors LLC now owns 593,312 shares of the Wireless communications provider’s stock worth $12,614,000 after acquiring an additional 501,125 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in SK Telecom by 113.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 428,723 shares of the Wireless communications provider’s stock worth $9,115,000 after acquiring an additional 227,792 shares in the last quarter.

SK Telecom Price Performance

SK Telecom stock opened at $21.62 on Friday. SK Telecom Co., Ltd. has a 52-week low of $19.84 and a 52-week high of $24.34. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 10.81 and a beta of 0.58. The company has a fifty day simple moving average of $21.83 and a 200-day simple moving average of $21.82. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.62.

SK Telecom (NYSE:SKM) last released its 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 8.92% and a net margin of 5.92%.The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.14 billion. On average, equities analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SKM shares. The Goldman Sachs Group lowered shares of SK Telecom from a “neutral” rating to a “sell” rating in a report on Monday, July 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of SK Telecom in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, SK Telecom currently has an average rating of “Hold”.

About SK Telecom

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.