Short Interest in SK Telecom Co., Ltd. (NYSE:SKM) Drops By 32.6%

SK Telecom Co., Ltd. (NYSE:SKM) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totalling 681,000 shares, a decline of 32.6% from the August 31st total of 1,010,000 shares. Based on an average trading volume of 249,600 shares, the short-interest ratio is currently 2.7 days. Approximately 0.2% of the shares of the company are sold short.

Institutional Trading of SK Telecom

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC bought a new stake in shares of SK Telecom in the 2nd quarter worth $469,000. Teachers Retirement System of The State of Kentucky raised its stake in shares of SK Telecom by 5.9% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 165,220 shares of the Wireless communications provider’s stock worth $3,458,000 after buying an additional 9,200 shares in the last quarter. Ariadne Wealth Management LP bought a new stake in shares of SK Telecom in the 2nd quarter worth $127,000. Millennium Management LLC raised its stake in shares of SK Telecom by 37.5% in the 2nd quarter. Millennium Management LLC now owns 158,866 shares of the Wireless communications provider’s stock worth $3,325,000 after buying an additional 43,327 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of SK Telecom during the second quarter worth $1,570,000.

SK Telecom Stock Down 0.5 %

SK Telecom stock traded down $0.13 during mid-day trading on Friday, hitting $24.34. 237,716 shares of the company’s stock traded hands, compared to its average volume of 278,727. The firm has a 50 day moving average price of $23.00 and a 200 day moving average price of $21.76. 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 has a one year low of $19.42 and a one year high of $24.58.

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

Analyst Upgrades and Downgrades

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

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.