Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in SK Telecom Co., Ltd. $SKM

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 444,496 shares of the Wireless communications provider’s stock after buying an additional 15,773 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in SK Telecom were worth $10,379,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SKM. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of SK Telecom during the 2nd quarter worth about $313,000. Envestnet Asset Management Inc. raised its holdings in SK Telecom by 87.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 157,789 shares of the Wireless communications provider’s stock worth $3,355,000 after purchasing an additional 73,444 shares during the period. Ballentine Partners LLC purchased a new position in SK Telecom during the second quarter worth approximately $472,000. LPL Financial LLC raised its stake in shares of SK Telecom by 17.3% during the 1st quarter. LPL Financial LLC now owns 88,665 shares of the Wireless communications provider’s stock worth $1,885,000 after buying an additional 13,070 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of SK Telecom during the 1st quarter valued at approximately $302,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued 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 issued a Sell rating to the stock. According to data from MarketBeat.com, SK Telecom has an average rating of “Hold”.

SK Telecom Price Performance

SK Telecom stock opened at $20.34 on Wednesday. The company has a fifty day simple moving average of $21.28 and a 200-day simple moving average of $21.66. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 15.17 and a beta of 0.56. 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 Co., Ltd. has a 52-week low of $19.84 and a 52-week high of $24.34.

SK Telecom (NYSE:SKM) last posted its quarterly earnings results on Thursday, October 30th. The Wireless communications provider reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.56). SK Telecom had a return on equity of 8.92% and a net margin of 5.92%.The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $3.08 billion. On average, equities analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

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.