Promethos Capital LLC Sells 36,120 Shares of SK Telecom Co., Ltd. (NYSE:SKM)

Promethos Capital LLC decreased its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 13.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 236,360 shares of the Wireless communications provider’s stock after selling 36,120 shares during the period. SK Telecom accounts for about 1.8% of Promethos Capital LLC’s portfolio, making the stock its 21st largest position. Promethos Capital LLC owned 0.05% of SK Telecom worth $4,943,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SKM. PNC Financial Services Group Inc. boosted its holdings in shares of SK Telecom by 474.0% in 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 buying an additional 9,171 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of SK Telecom by 79.6% during the first quarter. Acadian Asset Management LLC now owns 281,508 shares of the Wireless communications provider’s stock valued at $6,068,000 after acquiring an additional 124,739 shares in the last quarter. Simplicity Wealth LLC raised its position in shares of SK Telecom by 14.3% in the 2nd quarter. Simplicity Wealth LLC now owns 22,643 shares of the Wireless communications provider’s stock valued at $474,000 after purchasing an additional 2,827 shares during the last quarter. Sei Investments Co. boosted its stake in SK Telecom by 8.0% in the 1st quarter. Sei Investments Co. now owns 134,186 shares of the Wireless communications provider’s stock worth $2,893,000 after purchasing an additional 9,953 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in 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 in the last quarter.

Analysts Set New Price Targets

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

SK Telecom Trading Down 0.2 %

Shares of NYSE:SKM opened at $24.24 on Friday. The business’s 50 day moving average price is $22.73 and its 200-day moving average price is $21.68. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.60. SK Telecom Co., Ltd. has a 1 year low of $19.42 and a 1 year high of $24.51.

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

SK Telecom Company 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.