SK Telecom Co., Ltd. (NYSE:SKM) Sees Large Decline in Short Interest

SK Telecom Co., Ltd. (NYSE:SKM - Get Free Report) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 774,800 shares, a decrease of 16.7% from the March 15th total of 929,700 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 307,100 shares, the short-interest ratio is currently 2.5 days.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SKM. UBS Group began coverage on shares of SK Telecom in a research report on Wednesday, February 19th. They issued a "buy" rating on the stock. StockNews.com upgraded SK Telecom from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. Finally, The Goldman Sachs Group lowered shares of SK Telecom from a "buy" rating to a "neutral" rating in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers lifted its stake in shares of SK Telecom by 30.8% in the 4th quarter. Rhumbline Advisers now owns 87,146 shares of the Wireless communications provider's stock valued at $1,834,000 after purchasing an additional 20,506 shares during the last quarter. JPMorgan Chase & Co. raised its position in SK Telecom by 2,337.9% in the third quarter. JPMorgan Chase & Co. now owns 17,748 shares of the Wireless communications provider's stock valued at $422,000 after purchasing an additional 17,020 shares during the period. US Bancorp DE raised its holdings in shares of SK Telecom by 27.8% in the 4th quarter. US Bancorp DE now owns 93,295 shares of the Wireless communications provider's stock valued at $1,963,000 after buying an additional 20,285 shares during the period. Blue Trust Inc. lifted its stake in SK Telecom by 51.2% during the 4th quarter. Blue Trust Inc. now owns 65,823 shares of the Wireless communications provider's stock worth $1,385,000 after acquiring an additional 22,281 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in SK Telecom by 130.8% during the 4th quarter. Global Retirement Partners LLC now owns 7,526 shares of the Wireless communications provider's stock worth $158,000 after acquiring an additional 4,265 shares in the last quarter.

SK Telecom Stock Performance

NYSE:SKM traded up $0.04 during trading hours on Thursday, hitting $22.72. 360,656 shares of the company were exchanged, compared to its average volume of 268,605. The company's 50 day moving average price is $21.78 and its 200-day moving average price is $22.02. The stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 1.27 and a beta of 0.71. SK Telecom has a 52-week low of $20.28 and a 52-week high of $24.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.88.

SK Telecom (NYSE:SKM - Get Free Report) last issued its earnings results 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%. As a group, research analysts forecast that SK Telecom will post 2.27 earnings per share for the current year.

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.