Wellington Management Group LLP Sells 117,830 Shares of SK Telecom Co., Ltd. (NYSE:SKM)

Wellington Management Group LLP trimmed its position in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 27.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 309,711 shares of the Wireless communications provider’s stock after selling 117,830 shares during the quarter. Wellington Management Group LLP owned approximately 0.07% of SK Telecom worth $6,628,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. CWM LLC grew its position in SK Telecom by 3,900.0% during the 4th quarter. CWM LLC now owns 1,160 shares of the Wireless communications provider’s stock worth $25,000 after acquiring an additional 1,131 shares during the last quarter. Assetmark Inc. bought a new stake in shares of SK Telecom during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC increased its stake in shares of SK Telecom by 1,558.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the Wireless communications provider’s stock valued at $28,000 after buying an additional 1,231 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of SK Telecom in the fourth quarter valued at about $29,000. Finally, Tower Research Capital LLC TRC lifted its position in SK Telecom by 116.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,342 shares of the Wireless communications provider’s stock worth $72,000 after buying an additional 1,798 shares in the last quarter.

SK Telecom Price Performance

SK Telecom stock opened at $20.94 on Friday. SK Telecom Co., Ltd. has a 1 year low of $18.52 and a 1 year high of $22.71. The company’s 50-day moving average is $20.96 and its two-hundred day moving average is $21.18. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.95 and a current ratio of 0.98.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Wednesday, May 8th. The Wireless communications provider reported $0.68 earnings per share (EPS) for the quarter. The firm had revenue of $3.36 billion for the quarter. SK Telecom had a net margin of 6.53% and a return on equity of 8.97%. As a group, research analysts expect that SK Telecom Co., Ltd. will post 2.13 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SKM shares. StockNews.com cut shares of SK Telecom from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Nomura upgraded shares of SK Telecom from a “reduce” rating to a “neutral” rating in a research report on Wednesday, May 8th. Finally, Nomura Securities upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 8th.

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.