Wellington Management Group LLP Buys Shares of 33,585 SK Telecom Co., Ltd. $SKM

Wellington Management Group LLP bought a new position in shares of SK Telecom Co., Ltd. (NYSE:SKM) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 33,585 shares of the Wireless communications provider’s stock, valued at approximately $1,080,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SKM. Royal Bank of Canada lifted its stake in shares of 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 valued at $936,000 after purchasing an additional 3,316 shares during the period. Cubist Systematic Strategies LLC acquired a new position in SK Telecom during the first quarter worth about $85,000. Millennium Management LLC grew its position in SK Telecom by 160.7% during the first quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock worth $4,823,000 after buying an additional 139,829 shares during the period. Goldman Sachs Group Inc. increased its holdings in SK Telecom by 46.9% in the first quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider’s stock valued at $5,531,000 after buying an additional 83,030 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in SK Telecom by 10.8% in the second quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock valued at $134,000 after buying an additional 560 shares in the last quarter.

SK Telecom Stock Performance

NYSE:SKM opened at $37.84 on Friday. The firm has a 50 day simple moving average of $35.35 and a 200-day simple moving average of $34.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 1.15. The firm has a market cap of $14.52 billion, a PE ratio of 30.27 and a beta of 0.67. SK Telecom Co., Ltd. has a 1-year low of $19.66 and a 1-year high of $47.18.

SK Telecom (NYSE:SKM) last announced its earnings results on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.22. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.96 billion. SK Telecom had a net margin of 4.23% and a return on equity of 5.59%. On average, equities analysts expect that SK Telecom Co., Ltd. will post 2.21 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on SKM shares. Wall Street Zen raised SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. JPMorgan Chase & Co. raised SK Telecom from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 16th. Weiss Ratings raised SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. Finally, Zacks Research downgraded SK Telecom from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce”.

SK Telecom Profile

SK Telecom Co, Ltd. is a South Korean telecommunications company that provides mobile communications, broadband internet, and media services. Its offerings include wireless voice and data plans, 5G connectivity, fixed-line broadband, internet protocol television, and related digital services for consumers and businesses.

The company also develops enterprise technology solutions in areas such as artificial intelligence, cloud computing, data centers, cybersecurity, and connected devices.