SK Telecom Co., Ltd. $SKM Stock Position Raised by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its position in SK Telecom Co., Ltd. (NYSE:SKM) by 34.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,920 shares of the Wireless communications provider’s stock after buying an additional 6,655 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SK Telecom were worth $605,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Great Lakes Advisors LLC lifted its stake in SK Telecom by 543.6% in the first quarter. Great Lakes Advisors LLC now owns 593,312 shares of the Wireless communications provider’s stock valued at $12,614,000 after acquiring an additional 501,125 shares during the last quarter. Citigroup Inc. increased its stake in shares of SK Telecom by 55.5% during the 1st quarter. Citigroup Inc. now owns 1,202,830 shares of the Wireless communications provider’s stock worth $25,572,000 after purchasing an additional 429,434 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of SK Telecom by 113.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 428,723 shares of the Wireless communications provider’s stock valued at $9,115,000 after purchasing an additional 227,792 shares in the last quarter. Millennium Management LLC lifted its stake in shares of SK Telecom by 160.7% in the 1st quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock valued at $4,823,000 after purchasing an additional 139,829 shares during the last quarter. Finally, Boston Partners boosted its holdings in SK Telecom by 176.1% in the first quarter. Boston Partners now owns 134,932 shares of the Wireless communications provider’s stock worth $2,875,000 after purchasing an additional 86,070 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of SK Telecom in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

SK Telecom Price Performance

NYSE SKM opened at $19.94 on Friday. The company has a market cap of $7.85 billion, a P/E ratio of 10.23, a P/E/G ratio of 15.17 and a beta of 0.56. SK Telecom Co., Ltd. has a 1 year low of $19.73 and a 1 year high of $24.34. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $21.03 and a 200 day simple moving average of $21.58.

SK Telecom (NYSE:SKM) last released its 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 firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $3.08 billion. On average, sell-side analysts predict that SK Telecom Co., Ltd. will post 2.27 EPS for the current 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.