SK Telecom (NYSE:SKM) Sees Large Volume Increase – What’s Next?

SK Telecom Co., Ltd. (NYSE:SKM) saw strong trading volume on Monday . 442,642 shares traded hands during trading, an increase of 80% from the previous session’s volume of 246,101 shares.The stock last traded at $21.22 and had previously closed at $21.37.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. StockNews.com lowered shares of SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. The Goldman Sachs Group cut shares of SK Telecom from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. Finally, UBS Group started coverage on shares of SK Telecom in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

SK Telecom Price Performance

The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 1.27 and a beta of 0.77. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average price is $21.66 and its 200-day moving average price is $22.38.

SK Telecom (NYSE:SKM) last issued its earnings results on Wednesday, February 12th. The Wireless communications provider reported $0.63 earnings per share for the quarter. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. On average, equities research analysts forecast that SK Telecom Co., Ltd. will post 2.27 EPS for the current year.

Institutional Trading of SK Telecom

Several hedge funds have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. raised its holdings in SK Telecom by 24.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,938,528 shares of the Wireless communications provider’s stock valued at $61,827,000 after acquiring an additional 583,519 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in SK Telecom by 9.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,595,390 shares of the Wireless communications provider’s stock worth $33,567,000 after purchasing an additional 133,742 shares in the last quarter. Citigroup Inc. raised its holdings in SK Telecom by 0.3% during the third quarter. Citigroup Inc. now owns 811,850 shares of the Wireless communications provider’s stock worth $19,298,000 after purchasing an additional 2,737 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in SK Telecom during the fourth quarter worth approximately $10,712,000. Finally, O Shaughnessy Asset Management LLC raised its holdings in SK Telecom by 41.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 289,356 shares of the Wireless communications provider’s stock worth $6,088,000 after purchasing an additional 85,278 shares in the last quarter.

About SK Telecom

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.