Matthews International Capital Management LLC Sells 828 Shares of SK Telecom Co., Ltd. $SKM

Matthews International Capital Management LLC reduced its holdings in SK Telecom Co., Ltd. (NYSE:SKM) by 33.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,656 shares of the Wireless communications provider’s stock after selling 828 shares during the period. Matthews International Capital Management LLC’s holdings in SK Telecom were worth $39,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Signaturefd LLC lifted its holdings in shares of SK Telecom by 839.3% in the 2nd quarter. Signaturefd LLC now owns 9,524 shares of the Wireless communications provider’s stock valued at $222,000 after acquiring an additional 8,510 shares during the last quarter. Kathmere Capital Management LLC purchased a new stake in SK Telecom during the second quarter valued at approximately $340,000. TD Private Client Wealth LLC raised its position in SK Telecom by 9.6% during the second quarter. TD Private Client Wealth LLC now owns 18,577 shares of the Wireless communications provider’s stock valued at $434,000 after purchasing an additional 1,627 shares during the period. Ballentine Partners LLC bought a new position in shares of SK Telecom during the 2nd quarter valued at approximately $472,000. Finally, CHICAGO TRUST Co NA increased its position in shares of SK Telecom by 25.0% during the 2nd quarter. CHICAGO TRUST Co NA now owns 16,286 shares of the Wireless communications provider’s stock valued at $380,000 after purchasing an additional 3,253 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of SK Telecom in a research note on Saturday, September 27th. The Goldman Sachs Group lowered shares of SK Telecom from a “neutral” rating to a “sell” rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

SK Telecom Stock Down 0.3%

NYSE:SKM opened at $21.68 on Friday. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 11.07 and a beta of 0.58. SK Telecom Co., Ltd. has a twelve month low of $19.84 and a twelve month high of $24.34. The stock has a fifty day simple moving average of $21.99 and a 200-day simple moving average of $21.82. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.62.

SK Telecom (NYSE:SKM) last issued its earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.20). The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.14 billion. SK Telecom had a return on equity of 8.92% and a net margin of 5.92%. Analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current 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.