BlueCrest Capital Management Ltd purchased a new stake in shares of SK Telecom Co., Ltd. (NYSE:SKM – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 750,000 shares of the Wireless communications provider’s stock, valued at approximately $24,120,000. SK Telecom accounts for approximately 0.8% of BlueCrest Capital Management Ltd’s holdings, making the stock its 18th biggest holding.
A number of other large investors have also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership raised its position in SK Telecom by 2.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,253,677 shares of the Wireless communications provider’s stock valued at $48,679,000 after purchasing an additional 60,242 shares during the period. Great Lakes Advisors LLC increased its position in shares of SK Telecom by 1.1% during the 4th quarter. Great Lakes Advisors LLC now owns 1,117,361 shares of the Wireless communications provider’s stock worth $22,939,000 after purchasing an additional 12,672 shares during the last quarter. Bank of America Corp DE raised its holdings in SK Telecom by 9.6% in the 3rd quarter. Bank of America Corp DE now owns 886,930 shares of the Wireless communications provider’s stock valued at $19,158,000 after buying an additional 77,763 shares during the period. BNP Paribas Financial Markets lifted its position in SK Telecom by 0.5% in the third quarter. BNP Paribas Financial Markets now owns 618,787 shares of the Wireless communications provider’s stock valued at $13,366,000 after buying an additional 2,894 shares during the last quarter. Finally, Millennium Management LLC lifted its position in SK Telecom by 202.4% in the fourth quarter. Millennium Management LLC now owns 606,347 shares of the Wireless communications provider’s stock valued at $12,448,000 after buying an additional 405,863 shares during the last quarter.
Analyst Ratings Changes
A number of brokerages have weighed in on SKM. Zacks Research cut shares of SK Telecom from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, August 27th. JPMorgan Chase & Co. raised shares of SK Telecom from a “neutral” rating to an “overweight” rating in a research report on Thursday, July 16th. Weiss Ratings raised SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen upgraded SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, SK Telecom presently has an average rating of “Reduce”.
SK Telecom Stock Performance
Shares of SKM opened at $37.36 on Thursday. The company has a market capitalization of $14.34 billion, a price-to-earnings ratio of 29.89 and a beta of 0.67. SK Telecom Co., Ltd. has a 52-week low of $19.66 and a 52-week 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. The stock has a 50 day moving average price of $35.12 and a 200 day moving average price of $34.82.
SK Telecom (NYSE:SKM – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.22. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.96 billion. SK Telecom had a net margin of 4.23% and a return on equity of 5.59%. Research analysts predict that SK Telecom Co., Ltd. will post 2.21 EPS for the current fiscal 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.
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