Allspring Global Investments Holdings LLC Sells 77,236 Shares of SK Telecom Co., Ltd. $SKM

Allspring Global Investments Holdings LLC lessened its holdings in SK Telecom Co., Ltd. (NYSE:SKM) by 7.8% during the 3rd quarter, Holdings Channel reports. The firm owned 910,731 shares of the Wireless communications provider’s stock after selling 77,236 shares during the period. Allspring Global Investments Holdings LLC’s holdings in SK Telecom were worth $19,699,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Great Lakes Advisors LLC raised its stake in shares of SK Telecom by 543.6% during the first quarter. Great Lakes Advisors LLC now owns 593,312 shares of the Wireless communications provider’s stock worth $12,614,000 after buying an additional 501,125 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in SK Telecom by 16.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,193,435 shares of the Wireless communications provider’s stock worth $51,217,000 after acquiring an additional 303,646 shares during the period. JPMorgan Chase & Co. raised its position in shares of SK Telecom by 236.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 383,123 shares of the Wireless communications provider’s stock valued at $8,946,000 after acquiring an additional 269,135 shares during the last quarter. Creative Planning lifted its stake in shares of SK Telecom by 600.0% in the 2nd quarter. Creative Planning now owns 167,169 shares of the Wireless communications provider’s stock valued at $3,903,000 after purchasing an additional 143,287 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of SK Telecom by 160.7% in the 1st quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock valued at $4,823,000 after purchasing an additional 139,829 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SKM shares. Zacks Research raised SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Weiss Ratings restated a “hold (c)” rating on shares of SK Telecom in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

SK Telecom Trading Down 0.1%

NYSE SKM opened at $20.52 on Monday. SK Telecom Co., Ltd. has a one year low of $19.66 and a one year high of $23.80. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.03. The firm has a market cap of $8.09 billion, a P/E ratio of 30.62, a P/E/G ratio of 0.66 and a beta of 0.49. The stock’s 50-day moving average is $20.22 and its 200-day moving average is $21.42.

SK Telecom (NYSE:SKM) last posted its earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share (EPS) for the quarter. SK Telecom had a return on equity of 5.30% and a net margin of 3.60%. Sell-side analysts anticipate that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

SK Telecom 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.