Capelight Capital Asset Management LP Invests $2.05 Million in SK Telecom Co., Ltd. $SKM

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CHICAGO TRUST Co NA lifted its position in SK Telecom by 35.6% during the 1st quarter. CHICAGO TRUST Co NA now owns 28,161 shares of the Wireless communications provider’s stock valued at $825,000 after purchasing an additional 7,399 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of SK Telecom in the 1st quarter valued at about $306,000. Venturi Wealth Management LLC acquired a new stake in shares of SK Telecom during the 1st quarter worth approximately $270,000. Aaron Wealth Advisors LLC bought a new stake in shares of SK Telecom during the first quarter worth approximately $228,000. Finally, Ritholtz Wealth Management lifted its holdings in SK Telecom by 28.5% in the first quarter. Ritholtz Wealth Management now owns 34,601 shares of the Wireless communications provider’s stock valued at $1,013,000 after buying an additional 7,680 shares during the period.

Analyst Ratings Changes

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

SK Telecom Trading Down 0.3%

Shares of NYSE SKM opened at $31.79 on Friday. SK Telecom Co., Ltd. has a twelve month low of $19.66 and a twelve month high of $47.18. The stock has a market cap of $12.20 billion, a price-to-earnings ratio of 52.98, a P/E/G ratio of 0.20 and a beta of 0.63. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.57. The company’s fifty day moving average is $37.39 and its 200-day moving average is $31.02.

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

SK Telecom Company 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.