Capelight Capital Asset Management LP Acquires Shares of 70,000 SK Telecom Co., Ltd. $SKM

Capelight Capital Asset Management LP acquired a new stake in SK Telecom Co., Ltd. (NYSE:SKM) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 70,000 shares of the Wireless communications provider’s stock, valued at approximately $2,050,000. SK Telecom accounts for approximately 1.5% of Capelight Capital Asset Management LP’s investment portfolio, making the stock its 23rd largest holding.

A number of other hedge funds have also modified their holdings of the stock. Robeco Institutional Asset Management B.V. lifted its position in shares of SK Telecom by 17.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock worth $50,561,000 after buying an additional 374,428 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in SK Telecom by 2.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,253,677 shares of the Wireless communications provider’s stock valued at $48,679,000 after buying an additional 60,242 shares in the last quarter. Great Lakes Advisors LLC grew its position in SK Telecom by 1.1% in the fourth quarter. Great Lakes Advisors LLC now owns 1,117,361 shares of the Wireless communications provider’s stock valued at $22,939,000 after acquiring an additional 12,672 shares during the period. Allspring Global Investments Holdings LLC grew its position in SK Telecom by 1.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 923,579 shares of the Wireless communications provider’s stock valued at $18,961,000 after acquiring an additional 12,848 shares during the period. Finally, Bank of America Corp DE raised its stake in SK Telecom by 9.6% during the third quarter. Bank of America Corp DE now owns 886,930 shares of the Wireless communications provider’s stock worth $19,158,000 after acquiring an additional 77,763 shares in the last quarter.

SK Telecom Trading Down 0.3%

SKM opened at $31.79 on Friday. SK Telecom Co., Ltd. has a 1-year low of $19.66 and a 1-year high of $47.18. The stock has a market capitalization of $12.20 billion, a PE ratio of 52.98, a PEG ratio of 0.20 and a beta of 0.63. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $37.39 and a two-hundred day moving average price of $31.02.

SK Telecom (NYSE:SKM) last announced its earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.98 billion. As a group, equities analysts anticipate that SK Telecom Co., Ltd. will post 2.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SKM has been the subject of a number of analyst reports. HSBC raised SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Weiss Ratings cut shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Wall Street Zen downgraded shares of SK Telecom from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Zacks Research upgraded shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Four investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

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.