Parallel Advisors LLC Raises Stock Position in SK Telecom Co., Ltd. $SKM

Parallel Advisors LLC lifted its stake in SK Telecom Co., Ltd. (NYSE:SKM) by 116.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,483 shares of the Wireless communications provider’s stock after purchasing an additional 14,770 shares during the period. Parallel Advisors LLC’s holdings in SK Telecom were worth $805,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Royal Bank of Canada raised its stake in SK Telecom by 8.2% in the first quarter. Royal Bank of Canada now owns 43,999 shares of the Wireless communications provider’s stock worth $936,000 after buying an additional 3,316 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in SK Telecom in the first quarter worth about $85,000. Millennium Management LLC boosted its position in SK Telecom by 160.7% during the 1st quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock valued at $4,823,000 after acquiring an additional 139,829 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in SK Telecom by 46.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider’s stock valued at $5,531,000 after acquiring an additional 83,030 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of SK Telecom by 10.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock worth $134,000 after acquiring an additional 560 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. HSBC raised SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. Weiss Ratings cut SK Telecom from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, July 29th. Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. raised SK Telecom from a “neutral” rating to an “overweight” rating in a research report on Thursday, July 16th. Finally, Wall Street Zen upgraded shares of SK Telecom from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce”.

SK Telecom Stock Performance

SK Telecom stock opened at $34.22 on Friday. SK Telecom Co., Ltd. has a twelve month low of $19.66 and a twelve month high of $47.18. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $13.13 billion, a P/E ratio of 27.38, a PEG ratio of 0.20 and a beta of 0.64. The stock’s 50 day moving average is $34.73 and its 200 day moving average is $33.18.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Wednesday, August 5th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.22. SK Telecom had a return on equity of 5.59% and a net margin of 4.23%.The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.96 billion. On average, equities research analysts predict that SK Telecom Co., Ltd. will post 2.98 earnings per share for the current fiscal year.

About SK Telecom

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.