Millennium Management LLC Boosts Holdings in SK Telecom Co., Ltd. (NYSE:SKM)

Millennium Management LLC increased its holdings in SK Telecom Co., Ltd. (NYSE:SKM) by 37.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 158,866 shares of the Wireless communications provider’s stock after purchasing an additional 43,327 shares during the quarter. Millennium Management LLC’s holdings in SK Telecom were worth $3,325,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of SKM. AQR Capital Management LLC purchased a new stake in SK Telecom in the 2nd quarter worth approximately $1,570,000. EverSource Wealth Advisors LLC increased its position in SK Telecom by 24.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the Wireless communications provider’s stock valued at $75,000 after buying an additional 652 shares in the last quarter. Sei Investments Co. increased its holdings in shares of SK Telecom by 2.3% in the second quarter. Sei Investments Co. now owns 137,301 shares of the Wireless communications provider’s stock valued at $2,874,000 after purchasing an additional 3,115 shares during the period. Hsbc Holdings PLC boosted its position in SK Telecom by 20.0% during the second quarter. Hsbc Holdings PLC now owns 38,321 shares of the Wireless communications provider’s stock worth $802,000 after purchasing an additional 6,380 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of SK Telecom by 40.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 51,122 shares of the Wireless communications provider’s stock valued at $1,070,000 after acquiring an additional 14,701 shares during the last quarter.

SK Telecom Stock Performance

Shares of SKM stock opened at $23.08 on Tuesday. SK Telecom Co., Ltd. has a 52 week low of $19.88 and a 52 week high of $24.58. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.98 and a quick ratio of 0.95. The company’s fifty day simple moving average is $23.32 and its 200-day simple moving average is $21.85.

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

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of SK Telecom from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th.

SK Telecom 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.