Wealth High Governance Capital Ltda Makes New $7.74 Million Investment in SK Telecom Co., Ltd. $SKM

Wealth High Governance Capital Ltda bought a new position in SK Telecom Co., Ltd. (NYSE:SKM) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 264,247 shares of the Wireless communications provider’s stock, valued at approximately $7,740,000. SK Telecom comprises about 2.3% of Wealth High Governance Capital Ltda’s holdings, making the stock its 20th largest position. Wealth High Governance Capital Ltda owned about 0.07% of SK Telecom at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Kestra Advisory Services LLC bought a new position in shares of SK Telecom in the 4th quarter valued at about $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in SK Telecom during the fourth quarter worth approximately $30,000. Wexford Capital LP purchased a new stake in SK Telecom during the third quarter valued at approximately $39,000. Matthews International Capital Management LLC raised its position in SK Telecom by 50.4% during the fourth quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock valued at $51,000 after purchasing an additional 835 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of SK Telecom in the 1st quarter worth approximately $85,000.

SK Telecom Trading Down 0.0%

SKM opened at $31.62 on Monday. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.57. The firm has a market cap of $12.14 billion, a price-to-earnings ratio of 52.71, a PEG ratio of 0.19 and a beta of 0.64. SK Telecom Co., Ltd. has a 12 month low of $19.66 and a 12 month high of $47.18. The stock has a fifty day moving average price of $35.04 and a 200-day moving average price of $32.79.

SK Telecom (NYSE:SKM) last issued its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.98 billion. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%. As a group, equities research analysts anticipate that SK Telecom Co., Ltd. will post 2.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on SKM shares. Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. HSBC upgraded shares of SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. Weiss Ratings downgraded shares of SK Telecom from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. JPMorgan Chase & Co. raised SK Telecom from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 16th. Finally, Wall Street Zen raised shares of SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. One investment 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 MarketBeat, the stock has a consensus rating of “Reduce”.

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.