UBS Group AG Purchases 291,418 Shares of SK Telecom Co., Ltd. $SKM

UBS Group AG boosted its position in SK Telecom Co., Ltd. (NYSE:SKM) by 215.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 426,729 shares of the Wireless communications provider’s stock after buying an additional 291,418 shares during the quarter. UBS Group AG’s holdings in SK Telecom were worth $8,761,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SKM. Jones Financial Companies Lllp increased its stake in SK Telecom by 94.2% in the third quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock valued at $29,000 after acquiring an additional 648 shares during the last quarter. Allworth Financial LP increased its stake in SK Telecom by 138.2% in the third quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock valued at $37,000 after acquiring an additional 987 shares during the last quarter. Wexford Capital LP bought a new position in SK Telecom in the third quarter valued at approximately $39,000. Matthews International Capital Management LLC increased its stake in SK Telecom by 50.4% in the fourth quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock valued at $51,000 after acquiring an additional 835 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in SK Telecom in the first quarter valued at approximately $85,000.

SK Telecom Stock Performance

NYSE SKM opened at $38.27 on Monday. The firm’s fifty day moving average price is $33.60 and its two-hundred day moving average price is $26.97. The stock has a market cap of $14.69 billion, a PE ratio of 63.78, a PEG ratio of 0.23 and a beta of 0.61. SK Telecom Co., Ltd. has a fifty-two week low of $19.66 and a fifty-two week high of $40.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.03.

SK Telecom (NYSE:SKM) last posted its earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.98 billion. SK Telecom had a net margin of 2.03% and a return on equity of 2.84%. On average, equities analysts expect that SK Telecom Co., Ltd. will post 2.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SKM has been the topic of a number of recent analyst reports. Zacks Research cut shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Wall Street Zen raised shares of SK Telecom from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Bank of America cut shares of SK Telecom from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 18th. Weiss Ratings raised shares of SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 12th. Finally, HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

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.