Gabelli Funds LLC Reduces Stock Position in SK Telecom Co., Ltd. (NYSE:SKM)

Gabelli Funds LLC lowered its stake in SK Telecom Co., Ltd. (NYSE:SKMFree Report) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,314 shares of the Wireless communications provider’s stock after selling 7,000 shares during the period. Gabelli Funds LLC’s holdings in SK Telecom were worth $2,196,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SKM. Arrowstreet Capital Limited Partnership grew its stake in shares of SK Telecom by 602.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,229,982 shares of the Wireless communications provider’s stock worth $25,227,000 after purchasing an additional 1,054,990 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of SK Telecom by 744.0% in the second quarter. Goldman Sachs Group Inc. now owns 671,890 shares of the Wireless communications provider’s stock worth $14,996,000 after purchasing an additional 592,279 shares during the last quarter. BlackRock Inc. grew its stake in shares of SK Telecom by 71.8% in the first quarter. BlackRock Inc. now owns 1,193,354 shares of the Wireless communications provider’s stock worth $24,476,000 after purchasing an additional 498,677 shares during the last quarter. Citigroup Inc. grew its stake in shares of SK Telecom by 417.5% in the second quarter. Citigroup Inc. now owns 536,082 shares of the Wireless communications provider’s stock worth $10,459,000 after purchasing an additional 432,491 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of SK Telecom by 41.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,136,355 shares of the Wireless communications provider’s stock worth $22,170,000 after purchasing an additional 332,845 shares during the last quarter.

SK Telecom Price Performance

SK Telecom stock opened at $21.12 on Friday. The stock’s 50 day simple moving average is $21.05 and its two-hundred day simple moving average is $20.76. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. SK Telecom Co., Ltd. has a fifty-two week low of $18.26 and a fifty-two week high of $22.61.

SK Telecom (NYSE:SKMGet Free Report) last posted its quarterly earnings data on Friday, November 10th. The Wireless communications provider reported $0.12 earnings per share for the quarter. SK Telecom had a return on equity of 9.23% and a net margin of 6.55%. The business had revenue of $3.52 billion for the quarter. As a group, equities analysts forecast that SK Telecom Co., Ltd. will post 2.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on SKM. Nomura reaffirmed a “reduce” rating on shares of SK Telecom in a research report on Monday, February 5th. TheStreet raised SK Telecom from a “c+” rating to a “b-” rating in a research report on Wednesday, November 29th.

Read Our Latest Analysis on SK Telecom

SK Telecom Profile

(Free Report)

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.

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Institutional Ownership by Quarter for SK Telecom (NYSE:SKM)

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