SK Telecom Co., Ltd. (NYSE:SKM) Short Interest Update

SK Telecom Co., Ltd. (NYSE:SKM) was the target of a large decline in short interest in July. As of July 31st, there was short interest totaling 2,229,077 shares, a decline of 42.6% from the July 15th total of 3,886,580 shares. Based on an average daily volume of 3,066,527 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.6% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

SKM has been the subject of a number of research analyst reports. Weiss Ratings raised shares of SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. JPMorgan Chase & Co. raised SK Telecom from a “neutral” rating to an “overweight” rating in a report on Thursday, July 16th. HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Wall Street Zen raised shares of SK Telecom from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Finally, Zacks Research upgraded SK Telecom from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

SK Telecom Stock Up 1.7%

Shares of SKM opened at $39.07 on Wednesday. SK Telecom has a 52-week low of $19.66 and a 52-week high of $47.18. The company has a market capitalization of $14.99 billion, a PE ratio of 31.49 and a beta of 0.64. The stock has a fifty day simple moving average of $33.94 and a two-hundred day simple moving average of $33.84. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.57.

SK Telecom (NYSE:SKM) last posted its earnings results on Thursday, August 6th. The Wireless communications provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.22. The company had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.96 billion. SK Telecom had a net margin of 4.23% and a return on equity of 5.59%. As a group, equities analysts forecast that SK Telecom will post 2.42 EPS for the current year.

Hedge Funds Weigh In On SK Telecom

Several large investors have recently bought and sold shares of SKM. Arrowstreet Capital Limited Partnership raised its holdings in SK Telecom by 2.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,253,677 shares of the Wireless communications provider’s stock worth $48,679,000 after purchasing an additional 60,242 shares in the last quarter. Great Lakes Advisors LLC increased its position in 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 period. Bank of America Corp DE raised its position in SK Telecom by 9.6% in the third quarter. Bank of America Corp DE now owns 886,930 shares of the Wireless communications provider’s stock worth $19,158,000 after acquiring an additional 77,763 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of SK Telecom by 0.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 618,787 shares of the Wireless communications provider’s stock valued at $13,366,000 after purchasing an additional 2,894 shares in the last quarter. Finally, Millennium Management LLC grew its position in SK Telecom by 202.4% during the fourth quarter. Millennium Management LLC now owns 606,347 shares of the Wireless communications provider’s stock worth $12,448,000 after buying an additional 405,863 shares during the period.

SK Telecom Company Profile

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.