D. E. Shaw & Co. Inc. Grows Position in SK Telecom Co., Ltd. (NYSE:SKM)

D. E. Shaw & Co. Inc. boosted its stake in SK Telecom Co., Ltd. (NYSE:SKM) by 24.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 173,997 shares of the Wireless communications provider’s stock after buying an additional 34,668 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in SK Telecom were worth $3,661,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SKM. Principal Securities Inc. grew its stake in SK Telecom by 147.7% in the 4th quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider’s stock valued at $25,000 after purchasing an additional 721 shares during the period. Matthews International Capital Management LLC grew its stake in SK Telecom by 102.5% in the 4th quarter. Matthews International Capital Management LLC now owns 2,550 shares of the Wireless communications provider’s stock valued at $54,000 after purchasing an additional 1,291 shares during the period. Quadrant Capital Group LLC grew its stake in SK Telecom by 15.2% in the 4th quarter. Quadrant Capital Group LLC now owns 5,797 shares of the Wireless communications provider’s stock valued at $122,000 after purchasing an additional 764 shares during the period. Global Retirement Partners LLC grew its stake in SK Telecom by 130.8% in the 4th quarter. Global Retirement Partners LLC now owns 7,526 shares of the Wireless communications provider’s stock valued at $158,000 after purchasing an additional 4,265 shares during the period. Finally, Assetmark Inc. grew its stake in SK Telecom by 180.1% in the 4th quarter. Assetmark Inc. now owns 8,260 shares of the Wireless communications provider’s stock valued at $174,000 after purchasing an additional 5,311 shares during the period.

SK Telecom Stock Performance

Shares of NYSE SKM opened at $20.58 on Monday. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 8.40, a P/E/G ratio of 1.27 and a beta of 0.63. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48. SK Telecom Co., Ltd. has a 1-year low of $19.84 and a 1-year high of $24.58. The stock’s 50-day moving average is $21.47 and its 200 day moving average is $21.80.

SK Telecom (NYSE:SKM) last issued its quarterly earnings data on Monday, May 12th. The Wireless communications provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. On average, sell-side analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SKM. The Goldman Sachs Group downgraded SK Telecom from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Citigroup downgraded SK Telecom from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 6th. UBS Group assumed coverage on SK Telecom in a research note on Wednesday, February 19th. They set a “buy” rating for the company. StockNews.com downgraded SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. downgraded SK Telecom from an “overweight” rating to a “neutral” rating in a research note on Monday, May 12th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

SK Telecom 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.