Great Lakes Advisors LLC Cuts Stock Holdings in SK Telecom Co., Ltd. (NYSE:SKM)

Great Lakes Advisors LLC trimmed its position in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 12.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,860 shares of the Wireless communications provider’s stock after selling 1,411 shares during the quarter. Great Lakes Advisors LLC’s holdings in SK Telecom were worth $211,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of SK Telecom by 1.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,122,698 shares of the Wireless communications provider’s stock valued at $24,026,000 after purchasing an additional 12,097 shares in the last quarter. LSV Asset Management increased its holdings in SK Telecom by 15.3% in the 4th quarter. LSV Asset Management now owns 415,831 shares of the Wireless communications provider’s stock worth $8,899,000 after acquiring an additional 55,270 shares in the last quarter. Ramirez Asset Management Inc. purchased a new stake in SK Telecom in the 3rd quarter worth $8,165,000. Envestnet Asset Management Inc. increased its holdings in SK Telecom by 26.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 304,426 shares of the Wireless communications provider’s stock worth $6,533,000 after acquiring an additional 63,913 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in SK Telecom by 2.6% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 179,525 shares of the Wireless communications provider’s stock worth $3,853,000 after acquiring an additional 4,579 shares in the last quarter.

SK Telecom Price Performance

Shares of NYSE SKM opened at $21.31 on Friday. The firm has a 50-day simple moving average of $21.10 and a 200-day simple moving average of $21.33. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.61. SK Telecom Co., Ltd. has a 52 week low of $18.52 and a 52 week high of $22.71.

SK Telecom (NYSE:SKM) last issued its earnings results on Monday, April 29th. The Wireless communications provider reported $0.34 EPS for the quarter. The business had revenue of $3.43 billion during the quarter. SK Telecom had a net margin of 6.22% and a return on equity of 8.62%. Equities research analysts predict that SK Telecom Co., Ltd. will post 2.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SKM. Nomura Securities raised shares of SK Telecom from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 8th. Nomura raised shares of SK Telecom from a “reduce” rating to a “neutral” rating in a report on Wednesday, May 8th. Finally, StockNews.com raised shares of SK Telecom from a “buy” rating to a “strong-buy” rating in a report on Friday.

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.