Acadian Asset Management LLC Buys 23,033 Shares of SK Telecom Co., Ltd. (NYSE:SKM)

Acadian Asset Management LLC raised its stake in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 8.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 304,541 shares of the Wireless communications provider’s stock after buying an additional 23,033 shares during the quarter. Acadian Asset Management LLC’s holdings in SK Telecom were worth $6,373,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SKM. PNC Financial Services Group Inc. raised its stake in SK Telecom by 474.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,106 shares of the Wireless communications provider’s stock worth $238,000 after buying an additional 9,171 shares during the period. Simplicity Wealth LLC raised its position in shares of SK Telecom by 14.3% during the second quarter. Simplicity Wealth LLC now owns 22,643 shares of the Wireless communications provider’s stock worth $474,000 after purchasing an additional 2,827 shares during the period. Sei Investments Co. raised its position in shares of SK Telecom by 8.0% during the first quarter. Sei Investments Co. now owns 134,186 shares of the Wireless communications provider’s stock worth $2,893,000 after purchasing an additional 9,953 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of SK Telecom by 3.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,159,884 shares of the Wireless communications provider’s stock worth $25,007,000 after purchasing an additional 37,186 shares during the period. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of SK Telecom during the first quarter worth about $3,364,000.

SK Telecom Stock Performance

NYSE SKM opened at $23.98 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.60. SK Telecom Co., Ltd. has a one year low of $19.42 and a one year high of $24.20. The stock’s 50-day moving average is $22.32 and its 200-day moving average is $21.58.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Tuesday, August 6th. The Wireless communications provider reported $0.63 earnings per share for the quarter. The company had revenue of $3.22 billion during the quarter. SK Telecom had a net margin of 6.52% and a return on equity of 8.94%. On average, equities research analysts anticipate that SK Telecom Co., Ltd. will post 2.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com raised SK Telecom from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th.

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.