Mitsubishi UFJ Trust & Banking Corp Cuts Stock Position in SK Telecom Co., Ltd. $SKM

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 44.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,822 shares of the Wireless communications provider’s stock after selling 91,266 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in SK Telecom were worth $2,459,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada raised its stake in SK Telecom by 8.2% during the 1st quarter. Royal Bank of Canada now owns 43,999 shares of the Wireless communications provider’s stock valued at $936,000 after purchasing an additional 3,316 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in SK Telecom during the 1st quarter valued at approximately $85,000. Millennium Management LLC raised its position in shares of SK Telecom by 160.7% during the first quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock valued at $4,823,000 after buying an additional 139,829 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of SK Telecom by 46.9% in the first quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider’s stock worth $5,531,000 after buying an additional 83,030 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of SK Telecom during the second quarter worth $313,000.

SK Telecom Trading Up 2.9%

SKM opened at $28.17 on Friday. The firm has a market cap of $10.78 billion, a P/E ratio of 42.04, a P/E/G ratio of 6.08 and a beta of 0.49. SK Telecom Co., Ltd. has a 12 month low of $19.66 and a 12 month high of $28.35. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average of $21.27 and a 200 day moving average of $21.45.

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

Analysts Set New Price Targets

Several analysts have commented on SKM shares. Wall Street Zen cut shares of SK Telecom from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Daiwa Capital Markets downgraded SK Telecom to a “hold” rating in a research report on Wednesday, January 14th. Zacks Research raised SK Telecom from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of SK Telecom in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, SK Telecom has a consensus rating of “Hold”.

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.