Allspring Global Investments Holdings LLC Has $16.10 Million Stock Holdings in SK Telecom Co., Ltd. $SKM

Allspring Global Investments Holdings LLC decreased its stake in SK Telecom Co., Ltd. (NYSE:SKM) by 40.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 547,898 shares of the Wireless communications provider’s stock after selling 375,681 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in SK Telecom were worth $16,103,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kestra Advisory Services LLC bought a new stake in SK Telecom during the fourth quarter worth about $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in SK Telecom in the fourth quarter valued at approximately $30,000. Allworth Financial LP grew its stake in SK Telecom by 138.2% in the third quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock valued at $37,000 after purchasing an additional 987 shares in the last quarter. Wexford Capital LP acquired a new position in shares of SK Telecom during the 3rd quarter worth approximately $39,000. Finally, Matthews International Capital Management LLC increased its position in shares of SK Telecom by 50.4% during the 4th quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock worth $51,000 after purchasing an additional 835 shares during the last quarter.

SK Telecom Stock Up 1.8%

SKM stock opened at $31.98 on Wednesday. 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 market capitalization of $12.27 billion, a PE ratio of 53.30, a PEG ratio of 0.19 and a beta of 0.63. SK Telecom Co., Ltd. has a 1-year low of $19.66 and a 1-year high of $47.18. The business’s 50 day simple moving average is $35.87 and its 200 day simple moving average is $32.09.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Weiss Ratings downgraded SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. upgraded shares of SK Telecom from a “neutral” rating to an “overweight” rating in a report on Thursday, July 16th. Wall Street Zen raised shares of SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Zacks Research upgraded shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, SK Telecom has an average 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.