QRG Capital Management Inc. Raises Stock Position in SK Telecom Co., Ltd. (NYSE:SKM)

QRG Capital Management Inc. boosted its stake in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 100.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,004 shares of the Wireless communications provider's stock after purchasing an additional 24,103 shares during the period. QRG Capital Management Inc.'s holdings in SK Telecom were worth $1,141,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in SK Telecom by 64.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 62,780 shares of the Wireless communications provider's stock worth $1,314,000 after purchasing an additional 24,538 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in SK Telecom by 79.6% during the 1st quarter. Acadian Asset Management LLC now owns 281,508 shares of the Wireless communications provider's stock valued at $6,068,000 after buying an additional 124,739 shares in the last quarter. Simplicity Wealth LLC boosted its stake 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 valued at $474,000 after purchasing an additional 2,827 shares in the last quarter. Sei Investments Co. raised its stake in SK Telecom by 8.0% in the first quarter. Sei Investments Co. now owns 134,186 shares of the Wireless communications provider's stock worth $2,893,000 after buying an additional 9,953 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in SK Telecom during the 1st quarter valued at $3,364,000.

SK Telecom Stock Performance

Shares of NYSE SKM traded down $0.67 during midday trading on Friday, reaching $22.24. The company had a trading volume of 188,940 shares, compared to its average volume of 271,077. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.60. The business's 50-day simple moving average is $23.34 and its 200 day simple moving average is $22.12. SK Telecom Co., Ltd. has a 1 year low of $19.88 and a 1 year high of $24.58. The stock has a market cap of $9.82 billion, a P/E ratio of 10.30, a P/E/G ratio of 2.18 and a beta of 0.77.

SK Telecom (NYSE:SKM - Get Free Report) last announced 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 for the quarter. SK Telecom had a return on equity of 8.54% and a net margin of 6.31%. On average, analysts forecast that SK Telecom Co., Ltd. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered SK Telecom from a "strong-buy" rating to a "buy" rating in a research note on Friday.

About SK Telecom

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.