First Trust Direct Indexing L.P. Decreases Stock Holdings in SK Telecom Co., Ltd. (NYSE:SKM)

First Trust Direct Indexing L.P. decreased its holdings in SK Telecom Co., Ltd. (NYSE:SKM) by 74.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,791 shares of the Wireless communications provider’s stock after selling 45,025 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in SK Telecom were worth $340,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SKM. Allspring Global Investments Holdings LLC increased its position in shares of SK Telecom by 3.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,159,884 shares of the Wireless communications provider’s stock valued at $25,007,000 after purchasing an additional 37,186 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of SK Telecom by 31.7% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 39,199 shares of the Wireless communications provider’s stock valued at $845,000 after acquiring an additional 9,445 shares during the period. DGS Capital Management LLC grew its stake in shares of SK Telecom by 63.6% during the 1st quarter. DGS Capital Management LLC now owns 155,930 shares of the Wireless communications provider’s stock valued at $3,362,000 after acquiring an additional 60,591 shares during the period. Green Alpha Advisors LLC grew its stake in shares of SK Telecom by 19.8% during the 1st quarter. Green Alpha Advisors LLC now owns 58,544 shares of the Wireless communications provider’s stock valued at $1,262,000 after acquiring an additional 9,673 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of 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 valued at $238,000 after acquiring an additional 9,171 shares during the period.

SK Telecom Price Performance

SKM stock opened at $20.90 on Monday. SK Telecom Co., Ltd. has a 1-year low of $18.52 and a 1-year high of $22.71. 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 50 day simple moving average of $20.99 and a two-hundred day simple moving average of $21.16.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. StockNews.com downgraded SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Friday. Nomura Securities upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, Nomura upgraded SK Telecom from a “reduce” rating to a “neutral” rating in a research note on Wednesday, May 8th.

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.