SK Telecom Co., Ltd. (NYSE:SKM) Stock Short Interest Report for September

SK Telecom Co., Ltd. (NYSE:SKM) saw a large decrease in short interest in September. As of September 30th, there was short interest totaling 1,655,786 shares, a decrease of 49.6% from the September 15th total of 3,283,903 shares. Based on an average daily volume of 979,715 shares, the short-interest ratio is presently 1.7 days. Currently, 0.4% of the company’s stock are short sold.

Analysts Set New Price Targets

SKM has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Zacks Research raised SK Telecom from a “strong sell” rating to a “hold” rating in a report on Monday. Weiss Ratings raised shares of SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Finally, JPMorgan Chase & Co. upgraded shares of SK Telecom from a “neutral” rating to an “overweight” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce”.

SK Telecom Stock Performance

Shares of SK Telecom stock traded down $0.89 on Friday, hitting $31.94. The stock had a trading volume of 1,252,468 shares, compared to its average volume of 2,029,170. The stock has a market cap of $12.26 billion, a price-to-earnings ratio of 25.55 and a beta of 0.72. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. SK Telecom has a twelve month low of $19.66 and a twelve month high of $47.18. The business’s 50 day moving average is $36.61 and its two-hundred day moving average is $35.84.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.22. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.96 billion. SK Telecom had a return on equity of 5.30% and a net margin of 4.23%. Analysts forecast that SK Telecom will post 2.21 EPS for the current year.

Hedge Funds Weigh In On SK Telecom

Several institutional investors and hedge funds have recently modified their holdings of SKM. Tidal Investments LLC bought a new position in shares of SK Telecom during the second quarter worth approximately $42,869,000. BlueCrest Capital Management Ltd acquired a new stake in SK Telecom during the second quarter worth approximately $24,120,000. Nykredit A S acquired a new stake in SK Telecom during the second quarter worth approximately $14,475,000. Baird Financial Group Inc. acquired a new stake in SK Telecom during the second quarter worth approximately $14,459,000. Finally, ABN Amro Investment Solutions increased its stake in SK Telecom by 136.8% during the 1st quarter. ABN Amro Investment Solutions now owns 568,343 shares of the Wireless communications provider’s stock worth $16,647,000 after acquiring an additional 328,300 shares during the period.

SK Telecom Company Profile

SK Telecom Co, Ltd. is a South Korean telecommunications company and a member of the SK Group. Headquartered in Seoul, the company provides mobile communications services, including voice, messaging, wireless data, 5G connectivity and related subscription services, primarily in South Korea.

Through its affiliates and business operations, SK Telecom also offers fixed-line broadband internet, internet protocol television and media services. Its enterprise portfolio includes cloud computing, data center services, information and communication technology solutions, artificial intelligence and Internet of Things services for businesses and public-sector customers.

The company traces its origins to Korea Mobile Telecommunications, established in 1984, and adopted the SK Telecom name in 1998 following its incorporation into the SK Group.