SK Telecom Co., Ltd. (NYSE:SKM) Short Interest Update

SK Telecom Co., Ltd. (NYSE:SKM) saw a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 736,000 shares, a decrease of 31.2% from the April 30th total of 1,070,000 shares. Based on an average daily volume of 425,700 shares, the short-interest ratio is presently 1.7 days. Approximately 0.2% of the company’s shares are short sold.

SK Telecom Stock Performance

Shares of NYSE:SKM traded down $0.27 during midday trading on Friday, reaching $20.53. The company’s stock had a trading volume of 360,566 shares, compared to its average volume of 289,889. The firm has a market capitalization of $8.09 billion, a PE ratio of 8.38, a P/E/G ratio of 1.27 and a beta of 0.63. SK Telecom has a twelve month low of $19.84 and a twelve month high of $24.58. The stock has a fifty day moving average of $21.30 and a 200 day moving average of $21.67. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.48.

SK Telecom (NYSE:SKM) last posted its quarterly earnings results on Monday, May 12th. The Wireless communications provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.04. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. On average, equities analysts expect that SK Telecom will post 2.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on SKM. UBS Group began coverage on shares of SK Telecom in a research report on Wednesday, February 19th. They issued a “buy” rating for the company. JPMorgan Chase & Co. cut shares of SK Telecom from an “overweight” rating to a “neutral” rating in a research report on Monday, May 12th. Citigroup lowered shares of SK Telecom from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 6th. New Street Research upgraded shares of SK Telecom to a “hold” rating in a research note on Monday, May 19th. Finally, Wall Street Zen downgraded shares of SK Telecom from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Hedge Funds Weigh In On SK Telecom

A number of large investors have recently made changes to their positions in SKM. BNP Paribas Financial Markets purchased a new position in SK Telecom during the 4th quarter valued at about $10,712,000. Great Lakes Advisors LLC grew its holdings in shares of SK Telecom by 543.6% during the first quarter. Great Lakes Advisors LLC now owns 593,312 shares of the Wireless communications provider’s stock worth $12,614,000 after buying an additional 501,125 shares in the last quarter. Citigroup Inc. grew its holdings in shares of SK Telecom by 55.5% during the first quarter. Citigroup Inc. now owns 1,202,830 shares of the Wireless communications provider’s stock worth $25,572,000 after buying an additional 429,434 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of SK Telecom by 113.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 428,723 shares of the Wireless communications provider’s stock worth $9,115,000 after buying an additional 227,792 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of SK Telecom by 160.7% during the first quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock worth $4,823,000 after buying an additional 139,829 shares in the last quarter.

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.