SK Telecom Co., Ltd. (NYSE:SKM) Sees Significant Increase in Short Interest

SK Telecom Co., Ltd. (NYSE:SKM) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 1,060,000 shares, a growth of 25.0% from the February 13th total of 847,900 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 257,800 shares, the days-to-cover ratio is presently 4.1 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SKM. Robeco Institutional Asset Management B.V. lifted its position in shares of SK Telecom by 24.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,938,528 shares of the Wireless communications provider’s stock valued at $61,827,000 after buying an additional 583,519 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in SK Telecom during the 4th quarter worth about $10,712,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in SK Telecom during the 3rd quarter worth about $4,227,000. Arrowstreet Capital Limited Partnership lifted its holdings in SK Telecom by 9.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,595,390 shares of the Wireless communications provider’s stock worth $33,567,000 after purchasing an additional 133,742 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in SK Telecom during the 4th quarter worth about $1,879,000.

SK Telecom Stock Down 0.7 %

Shares of NYSE:SKM opened at $21.52 on Wednesday. The company has a market capitalization of $8.48 billion, a PE ratio of 8.78, a price-to-earnings-growth ratio of 1.27 and a beta of 0.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.88. The business has a fifty day moving average price of $21.64 and a two-hundred day moving average price of $22.42. SK Telecom has a 1 year low of $19.88 and a 1 year high of $24.58.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on SKM shares. The Goldman Sachs Group downgraded SK Telecom from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. UBS Group started coverage on SK Telecom in a report on Wednesday, February 19th. They set a “buy” rating for the company. Finally, StockNews.com downgraded SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

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.