Rhumbline Advisers Has $1.32 Million Stock Holdings in SK Telecom Co., Ltd. (NYSE:SKM)

Rhumbline Advisers cut its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 14.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,230 shares of the Wireless communications provider’s stock after selling 10,932 shares during the period. Rhumbline Advisers’ holdings in SK Telecom were worth $1,323,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

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

SK Telecom Stock Performance

NYSE:SKM opened at $23.91 on Friday. The company has a fifty day moving average of $22.78 and a 200-day moving average of $21.70. The firm has a market capitalization of $10.56 billion, a P/E ratio of 18.83, a P/E/G ratio of 2.26 and a beta of 0.77. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.60. SK Telecom Co., Ltd. has a twelve month low of $19.42 and a twelve month high of $24.51.

SK Telecom (NYSE:SKM) last released its quarterly earnings data on Tuesday, August 6th. The Wireless communications provider reported $0.63 earnings per share for the quarter. The company had revenue of $3.22 billion during the quarter. SK Telecom had a net margin of 6.52% and a return on equity of 8.94%. As a group, sell-side analysts anticipate that SK Telecom Co., Ltd. will post 2.29 EPS for the current year.

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.