Ethic Inc. Sells 27,773 Shares of SK Telecom Co., Ltd. $SKM

Ethic Inc. reduced its holdings in SK Telecom Co., Ltd. (NYSE:SKM) by 16.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 143,038 shares of the Wireless communications provider’s stock after selling 27,773 shares during the quarter. Ethic Inc.’s holdings in SK Telecom were worth $4,993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Commonwealth Equity Services LLC grew its holdings in shares of SK Telecom by 13.7% during the third quarter. Commonwealth Equity Services LLC now owns 11,971 shares of the Wireless communications provider’s stock worth $418,000 after purchasing an additional 1,440 shares in the last quarter. Trek Financial LLC bought a new position in shares of SK Telecom in the third quarter worth approximately $270,000. Vise Technologies Inc. raised its stake in SK Telecom by 11.5% in the third quarter. Vise Technologies Inc. now owns 36,868 shares of the Wireless communications provider’s stock valued at $1,287,000 after purchasing an additional 3,789 shares in the last quarter. Americana Partners LLC raised its stake in SK Telecom by 18.6% in the third quarter. Americana Partners LLC now owns 22,247 shares of the Wireless communications provider’s stock valued at $777,000 after purchasing an additional 3,490 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in SK Telecom by 14.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,923,202 shares of the Wireless communications provider’s stock valued at $102,049,000 after purchasing an additional 366,561 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SKM shares. JPMorgan Chase & Co. upgraded shares of SK Telecom from a “neutral” rating to an “overweight” rating in a research report on Thursday, July 16th. Wall Street Zen lowered shares of SK Telecom from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings upgraded shares of SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Finally, Zacks Research upgraded shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce”.

SK Telecom Price Performance

SKM opened at $32.35 on Tuesday. The stock has a 50-day moving average price of $34.38 and a 200-day moving average price of $34.00. SK Telecom Co., Ltd. has a 12-month low of $19.66 and a 12-month high of $47.18. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $12.42 billion, a P/E ratio of 11.30 and a beta of 0.78.

SK Telecom (NYSE:SKM) last released its earnings results on Wednesday, November 4th. The Wireless communications provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.07. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.27 billion. SK Telecom had a return on equity of 9.26% and a net margin of 7.49%. Equities analysts predict that SK Telecom Co., Ltd. will post 3.90 earnings per share for the current fiscal year.

SK Telecom Company Profile

SK Telecom is a South Korean telecommunications company that provides mobile voice and data services, including 5G connectivity, to consumers and businesses. Its offerings also include internet of things and enterprise connectivity solutions.

Through its subsidiary SK Broadband, the company provides fixed-line broadband and IPTV services, including its B tv platform. SK Telecom is also developing artificial intelligence services and infrastructure, alongside data center and cloud-related offerings.

Headquartered in Seoul, SK Telecom traces its roots to Korea Mobile Telecommunications Services, established in 1984.