Ritholtz Wealth Management Purchases 15,878 Shares of SK Telecom Co., Ltd. (NYSE:SKM)

Ritholtz Wealth Management raised its position in SK Telecom Co., Ltd. (NYSE:SKM) by 49.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,164 shares of the Wireless communications provider’s stock after purchasing an additional 15,878 shares during the quarter. Ritholtz Wealth Management’s holdings in SK Telecom were worth $1,145,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. First Affirmative Financial Network increased its holdings in SK Telecom by 11.4% in the third quarter. First Affirmative Financial Network now owns 11,617 shares of the Wireless communications provider’s stock valued at $276,000 after purchasing an additional 1,188 shares during the period. Aprio Wealth Management LLC bought a new position in shares of SK Telecom during the third quarter worth about $231,000. GAMMA Investing LLC lifted its stake in shares of SK Telecom by 27.8% in the third 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 period. Sanctuary Advisors LLC bought a new stake in SK Telecom in the second quarter valued at approximately $469,000. Finally, Teachers Retirement System of The State of Kentucky increased its position in SK Telecom by 5.9% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 165,220 shares of the Wireless communications provider’s stock valued at $3,458,000 after purchasing an additional 9,200 shares during the period.

Analysts Set New Price Targets

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

SK Telecom Stock Performance

Shares of SK Telecom stock opened at $23.08 on Tuesday. The stock’s 50-day moving average is $23.32 and its 200 day moving average is $21.85. 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 Co., Ltd. has a one year low of $19.88 and a one year high of $24.58.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Tuesday, August 6th. The Wireless communications provider reported $0.63 EPS 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%. As a group, equities analysts anticipate that SK Telecom Co., Ltd. will post 2.29 EPS for the current fiscal 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.