Renaissance Technologies LLC Buys Shares of 63,900 SK Telecom Co., Ltd. (NYSE:SKM)

Renaissance Technologies LLC purchased a new position in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 63,900 shares of the Wireless communications provider's stock, valued at approximately $1,344,000.

Other hedge funds have also recently modified their holdings of the company. Invesco Ltd. grew its holdings in SK Telecom by 82.7% during the fourth quarter. Invesco Ltd. now owns 84,944 shares of the Wireless communications provider's stock valued at $1,787,000 after purchasing an additional 38,456 shares during the period. Quadrant Capital Group LLC grew its stake in shares of SK Telecom by 15.2% during the 4th quarter. Quadrant Capital Group LLC now owns 5,797 shares of the Wireless communications provider's stock valued at $122,000 after acquiring an additional 764 shares during the period. Envestnet Asset Management Inc. increased its holdings in SK Telecom by 93.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 84,345 shares of the Wireless communications provider's stock worth $1,775,000 after acquiring an additional 40,640 shares in the last quarter. Landscape Capital Management L.L.C. raised its stake in SK Telecom by 41.8% during the 4th quarter. Landscape Capital Management L.L.C. now owns 60,967 shares of the Wireless communications provider's stock worth $1,283,000 after acquiring an additional 17,984 shares during the period. Finally, Everstar Asset Management LLC lifted its holdings in SK Telecom by 8.0% during the fourth quarter. Everstar Asset Management LLC now owns 20,462 shares of the Wireless communications provider's stock valued at $431,000 after purchasing an additional 1,512 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. The Goldman Sachs Group downgraded shares of SK Telecom from a "buy" rating to a "neutral" rating in a research report on Monday, March 3rd. UBS Group initiated coverage on SK Telecom in a research report on Wednesday, February 19th. They issued a "buy" rating on the stock. Finally, StockNews.com upgraded SK Telecom from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 18th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, SK Telecom presently has an average rating of "Moderate Buy".

SK Telecom Stock Down 5.7 %

Shares of SKM stock opened at $21.15 on Tuesday. The stock has a market cap of $8.33 billion, a P/E ratio of 8.63, a PEG ratio of 1.27 and a beta of 0.71. The company's fifty day simple moving average is $21.78 and its two-hundred day simple moving average is $22.00. 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 Co., Ltd. has a 52 week low of $20.28 and a 52 week high of $24.58.

SK Telecom (NYSE:SKM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The Wireless communications provider reported $0.63 EPS for the quarter. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. Analysts predict that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding SKM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SK Telecom Co., Ltd. (NYSE:SKM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.