Ramirez Asset Management Inc. Sells 1,849 Shares of SK Telecom Co., Ltd. (NYSE:SKM)

Ramirez Asset Management Inc. trimmed its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 1.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 93,821 shares of the Wireless communications provider’s stock after selling 1,849 shares during the quarter. Ramirez Asset Management Inc.’s holdings in SK Telecom were worth $1,974,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Principal Securities Inc. increased its position in shares of SK Telecom by 147.7% during the fourth quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider’s stock worth $25,000 after acquiring an additional 721 shares in the last quarter. Matthews International Capital Management LLC boosted its stake in SK Telecom by 102.5% in the 4th quarter. Matthews International Capital Management LLC now owns 2,550 shares of the Wireless communications provider’s stock worth $54,000 after purchasing an additional 1,291 shares during the period. GAMMA Investing LLC increased its holdings in SK Telecom by 34.4% during the 4th quarter. GAMMA Investing LLC now owns 3,019 shares of the Wireless communications provider’s stock worth $64,000 after purchasing an additional 773 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of SK Telecom by 130.8% in the 4th quarter. Global Retirement Partners LLC now owns 7,526 shares of the Wireless communications provider’s stock valued at $158,000 after purchasing an additional 4,265 shares during the period. Finally, Assetmark Inc. lifted its holdings in shares of SK Telecom by 180.1% in the fourth quarter. Assetmark Inc. now owns 8,260 shares of the Wireless communications provider’s stock valued at $174,000 after purchasing an additional 5,311 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have commented on SKM. StockNews.com cut SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. UBS Group started coverage on SK Telecom in a report on Wednesday, February 19th. They set a “buy” rating on the stock. Finally, The Goldman Sachs Group lowered SK Telecom from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, SK Telecom has an average rating of “Hold”.

SK Telecom Stock Performance

Shares of NYSE SKM opened at $21.40 on Friday. 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 $8.43 billion, a P/E ratio of 8.73, a P/E/G ratio of 1.27 and a beta of 0.77. SK Telecom Co., Ltd. has a 12 month low of $19.88 and a 12 month high of $24.58. The stock has a 50 day moving average of $21.66 and a 200-day moving average of $22.33.

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

SK Telecom 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.