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

SK Telecom Co., Ltd. (NYSE:SKM) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totalling 491,800 shares, a decline of 27.8% from the September 15th total of 681,000 shares. Based on an average trading volume of 242,900 shares, the short-interest ratio is presently 2.0 days. Currently, 0.1% of the shares of the stock are short sold.

Institutional Investors Weigh In On SK Telecom

A number of hedge funds and other institutional investors have recently bought and sold shares of SKM. GAMMA Investing LLC grew its position in SK Telecom by 27.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,246 shares of the Wireless communications provider’s stock worth $53,000 after acquiring an additional 488 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of SK Telecom by 104.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the Wireless communications provider’s stock valued at $55,000 after buying an additional 1,372 shares during the period. Advisors Preferred LLC acquired a new stake in shares of SK Telecom in the first quarter valued at about $112,000. Ariadne Wealth Management LP acquired a new stake in shares of SK Telecom in the second quarter valued at about $127,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of SK Telecom in the first quarter valued at about $216,000.

SK Telecom Price Performance

SK Telecom stock opened at $22.94 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.95 and a current ratio of 0.98. SK Telecom has a 52 week low of $19.88 and a 52 week high of $24.58. The stock has a market capitalization of $10.13 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 2.09 and a beta of 0.77. The stock has a fifty day moving average of $23.29 and a 200-day moving average of $21.84.

SK Telecom (NYSE:SKM) last posted its quarterly earnings results on Tuesday, August 6th. The Wireless communications provider reported $0.63 EPS for the quarter. SK Telecom had a return on equity of 8.94% and a net margin of 6.52%. The company had revenue of $3.22 billion during the quarter. On average, sell-side analysts expect that SK Telecom will post 2.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.