OVERSEA CHINESE BANKING Corp Ltd Has $800,000 Stake in SK Telecom Co., Ltd. (NYSE:SKM)

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 37.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,031 shares of the Wireless communications provider’s stock after selling 22,804 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in SK Telecom were worth $800,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Principal Securities Inc. increased its stake in SK Telecom by 147.7% during the 4th quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider’s stock worth $25,000 after acquiring an additional 721 shares during the period. Matthews International Capital Management LLC raised its stake in SK Telecom by 102.5% in the fourth 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 in the last quarter. GAMMA Investing LLC lifted its position in SK Telecom by 34.4% during the fourth quarter. GAMMA Investing LLC now owns 3,019 shares of the Wireless communications provider’s stock worth $64,000 after purchasing an additional 773 shares during the period. Global Retirement Partners LLC grew its stake in SK Telecom by 130.8% during the fourth quarter. Global Retirement Partners LLC now owns 7,526 shares of the Wireless communications provider’s stock worth $158,000 after buying an additional 4,265 shares in the last quarter. Finally, Assetmark Inc. increased its holdings 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 buying an additional 5,311 shares during the period.

SK Telecom Price Performance

Shares of NYSE:SKM opened at $21.63 on Thursday. SK Telecom Co., Ltd. has a one year low of $19.88 and a one year high of $24.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.88. The company has a market cap of $8.52 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 1.27 and a beta of 0.77. The firm has a 50 day simple moving average of $21.65 and a 200 day simple moving average of $22.41.

SK Telecom (NYSE:SKM) last announced its quarterly earnings results on Wednesday, February 12th. The Wireless communications provider reported $0.63 EPS for the quarter. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. Research analysts predict that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SKM shares. The Goldman Sachs Group lowered shares of SK Telecom from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. StockNews.com lowered SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, UBS Group started coverage on SK Telecom in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.