Envestnet Asset Management Inc. Sells 90,965 Shares of SK Telecom Co., Ltd. $SKM

Envestnet Asset Management Inc. lowered its position in SK Telecom Co., Ltd. (NYSE:SKM) by 72.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,249 shares of the Wireless communications provider’s stock after selling 90,965 shares during the quarter. Envestnet Asset Management Inc.’s holdings in SK Telecom were worth $761,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. West Family Investments Inc. purchased a new stake in SK Telecom in the 2nd quarter worth about $416,000. North of South Capital LLP bought a new position in shares of SK Telecom during the third quarter valued at approximately $1,133,000. Atria Investments Inc purchased a new stake in shares of SK Telecom in the second quarter worth approximately $504,000. Quadrant Capital Group LLC raised its holdings in shares of SK Telecom by 1,406.1% in the second quarter. Quadrant Capital Group LLC now owns 108,303 shares of the Wireless communications provider’s stock worth $2,529,000 after buying an additional 101,112 shares during the period. Finally, Vise Technologies Inc. bought a new stake in shares of SK Telecom during the 2nd quarter worth approximately $631,000.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Daiwa Securities Group downgraded SK Telecom to a “hold” rating in a research report on Wednesday, January 14th. Weiss Ratings reissued a “hold (c)” rating on shares of SK Telecom in a research note on Monday, December 29th. Citigroup downgraded shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Bank of America cut shares of SK Telecom from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 18th. Finally, Wall Street Zen upgraded shares of SK Telecom from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.

SK Telecom Trading Up 7.6%

NYSE SKM opened at $31.51 on Thursday. SK Telecom Co., Ltd. has a one year low of $19.66 and a one year high of $33.71. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.03. The company has a market capitalization of $12.09 billion, a price-to-earnings ratio of 46.34, a price-to-earnings-growth ratio of 4.10 and a beta of 0.49. The company’s 50-day simple moving average is $26.04 and its two-hundred day simple moving average is $22.75.

SK Telecom (NYSE:SKM) last released its quarterly earnings data on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share (EPS) for the quarter. The business had revenue of $2.83 billion for the quarter. SK Telecom had a net margin of 2.28% and a return on equity of 3.21%. Equities analysts forecast that SK Telecom Co., Ltd. will post 2.27 EPS 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.