Promethos Capital LLC Lowers Stock Holdings in SK Telecom Co., Ltd. (NYSE:SKM)

Promethos Capital LLC cut its stake in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 13.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 236,360 shares of the Wireless communications provider’s stock after selling 36,120 shares during the period. SK Telecom makes up 1.8% of Promethos Capital LLC’s investment portfolio, making the stock its 21st biggest holding. Promethos Capital LLC’s holdings in SK Telecom were worth $4,943,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new position in shares of SK Telecom during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC increased its position in SK Telecom by 1,558.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the Wireless communications provider’s stock worth $28,000 after purchasing an additional 1,231 shares during the period. Advisors Preferred LLC purchased a new position in shares of SK Telecom during the 1st quarter worth approximately $112,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of SK Telecom during the 1st quarter worth approximately $216,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of SK Telecom by 474.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,106 shares of the Wireless communications provider’s stock valued at $238,000 after buying an additional 9,171 shares during the period.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised SK Telecom from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th.

SK Telecom Stock Performance

Shares of SKM stock opened at $24.24 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.95 and a current ratio of 0.98. The business has a fifty day simple moving average of $22.73 and a 200-day simple moving average of $21.68. SK Telecom Co., Ltd. has a fifty-two week low of $19.42 and a fifty-two week high of $24.51.

SK Telecom (NYSE:SKM) last posted its quarterly earnings data on Tuesday, August 6th. The Wireless communications provider reported $0.63 earnings per share (EPS) for the quarter. SK Telecom had a return on equity of 8.94% and a net margin of 6.52%. The business had revenue of $3.22 billion for the quarter. On average, analysts predict that SK Telecom Co., Ltd. will post 2.29 earnings per share for the current year.

SK Telecom Company Profile

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.