Gabelli Funds LLC Sells 500 Shares of SK Telecom Co., Ltd. (NYSE:SKM)

Gabelli Funds LLC decreased its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,700 shares of the Wireless communications provider’s stock after selling 500 shares during the quarter. Gabelli Funds LLC’s holdings in SK Telecom were worth $2,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in SKM. Guggenheim Capital LLC grew its position in shares of SK Telecom by 10.6% in the fourth quarter. Guggenheim Capital LLC now owns 37,616 shares of the Wireless communications provider’s stock valued at $791,000 after purchasing an additional 3,590 shares in the last quarter. Mariner LLC grew its holdings in SK Telecom by 4.6% during the 4th quarter. Mariner LLC now owns 61,979 shares of the Wireless communications provider’s stock valued at $1,304,000 after buying an additional 2,730 shares in the last quarter. Scotia Capital Inc. increased its position in shares of SK Telecom by 12.3% during the fourth quarter. Scotia Capital Inc. now owns 54,713 shares of the Wireless communications provider’s stock valued at $1,151,000 after buying an additional 5,996 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of SK Telecom in the fourth quarter worth about $1,879,000. Finally, Renaissance Technologies LLC bought a new position in shares of SK Telecom in the fourth quarter valued at approximately $1,344,000.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. The Goldman Sachs Group lowered shares of SK Telecom from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. StockNews.com upgraded SK Telecom from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, UBS Group started coverage on SK Telecom in a research note on Wednesday, February 19th. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

SK Telecom Trading Up 0.7 %

Shares of SK Telecom stock opened at $22.89 on Friday. The company has a 50 day simple moving average of $21.70 and a two-hundred day simple moving average of $22.03. The firm has a market cap of $9.01 billion, a PE ratio of 9.34, a PEG ratio of 1.27 and a beta of 0.71. SK Telecom Co., Ltd. has a 1 year low of $20.02 and a 1 year high of $24.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.88.

SK Telecom (NYSE:SKM) last announced its earnings results on Wednesday, February 12th. The Wireless communications provider reported $0.63 earnings per share (EPS) for the quarter. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. Analysts expect that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

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.