SK Telecom (NYSE:SKM) Sees Large Volume Increase – What’s Next?

SK Telecom Co., Ltd. (NYSE:SKM) shares saw unusually-strong trading volume on Monday . Approximately 442,642 shares were traded during mid-day trading, an increase of 80% from the previous session’s volume of 246,101 shares.The stock last traded at $21.22 and had previously closed at $21.37.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SKM shares. UBS Group started coverage on shares of SK Telecom in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. StockNews.com cut shares of SK Telecom from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, The Goldman Sachs Group cut shares of SK Telecom from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold”.

SK Telecom Stock Down 0.7 %

The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 1.27 and a beta of 0.77. The firm’s 50 day simple moving average is $21.66 and its 200-day simple moving average is $22.38.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data 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%. On average, sell-side analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

A number of institutional investors and hedge funds have recently made changes to their positions in SKM. Robeco Institutional Asset Management B.V. grew its stake 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 worth $61,827,000 after purchasing an additional 583,519 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of SK Telecom during the 4th quarter worth $10,712,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of SK Telecom in the 3rd quarter worth about $4,227,000. Arrowstreet Capital Limited Partnership boosted its position in shares of SK Telecom by 9.2% in 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 buying an additional 133,742 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of SK Telecom in the 4th quarter worth about $1,879,000.

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.