Mitsubishi UFJ Trust & Banking Corp Sells 91,266 Shares of SK Telecom Co., Ltd. $SKM

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in SK Telecom Co., Ltd. (NYSE:SKM) by 44.5% during the third quarter, HoldingsChannel.com reports. The firm owned 113,822 shares of the Wireless communications provider’s stock after selling 91,266 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in SK Telecom were worth $2,459,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its holdings in shares of SK Telecom by 16.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,193,435 shares of the Wireless communications provider’s stock worth $51,217,000 after purchasing an additional 303,646 shares during the last quarter. JPMorgan Chase & Co. boosted its position in SK Telecom by 236.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 383,123 shares of the Wireless communications provider’s stock valued at $8,946,000 after buying an additional 269,135 shares during the period. Creative Planning grew its stake in SK Telecom by 600.0% in the 2nd quarter. Creative Planning now owns 167,169 shares of the Wireless communications provider’s stock worth $3,903,000 after acquiring an additional 143,287 shares in the last quarter. Millennium Management LLC grew its stake in SK Telecom by 160.7% in the 1st quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock worth $4,823,000 after acquiring an additional 139,829 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of SK Telecom by 1,406.1% during the second quarter. Quadrant Capital Group LLC now owns 108,303 shares of the Wireless communications provider’s stock worth $2,529,000 after acquiring an additional 101,112 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SKM. Weiss Ratings reiterated a “hold (c)” rating on shares of SK Telecom in a report on Monday, December 29th. Daiwa Capital Markets lowered SK Telecom to a “hold” rating in a research report on Wednesday, January 14th. Wall Street Zen downgraded SK Telecom from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Finally, Zacks Research upgraded SK Telecom from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

SK Telecom Stock Up 2.9%

SK Telecom stock opened at $28.17 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm has a market cap of $10.78 billion, a P/E ratio of 42.04, a P/E/G ratio of 6.08 and a beta of 0.49. The business has a fifty day moving average of $21.27 and a two-hundred day moving average of $21.45. SK Telecom Co., Ltd. has a twelve month low of $19.66 and a twelve month high of $28.35.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) EPS for the quarter. SK Telecom had a net margin of 3.60% and a return on equity of 5.30%. On average, analysts forecast that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

SK Telecom Profile

SK Telecom Co, Ltd. (NYSE:SKM) is South Korea’s largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.