Cypress Capital Management LLC WY purchased a new position in shares of SK Telecom Co., Ltd. (NYSE:SKM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,660 shares of the Wireless communications provider’s stock, valued at approximately $145,000.
Other hedge funds have also made changes to their positions in the company. LSV Asset Management boosted its stake in shares of SK Telecom Co. by 1.0% in the first quarter. LSV Asset Management now owns 1,184,485 shares of the Wireless communications provider’s stock worth $29,825,000 after buying an additional 12,200 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of SK Telecom Co. by 168.4% in the fourth quarter. Renaissance Technologies LLC now owns 227,400 shares of the Wireless communications provider’s stock worth $4,753,000 after buying an additional 142,687 shares during the last quarter. Comerica Bank boosted its stake in shares of SK Telecom Co. by 12.9% in the fourth quarter. Comerica Bank now owns 31,078 shares of the Wireless communications provider’s stock worth $668,000 after buying an additional 3,562 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of SK Telecom Co. by 22.3% in the first quarter. Bank of America Corp DE now owns 2,647,702 shares of the Wireless communications provider’s stock worth $66,670,000 after buying an additional 483,598 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of SK Telecom Co. during the fourth quarter worth approximately $808,000. Institutional investors own 11.71% of the company’s stock.
SK Telecom Co., Ltd. (SKM) traded up 3.82% during mid-day trading on Friday, reaching $27.15. 250,873 shares of the company’s stock traded hands. The company has a market cap of $17.27 billion, a P/E ratio of 11.73 and a beta of 0.34. SK Telecom Co., Ltd. has a 12-month low of $20.44 and a 12-month high of $27.38. The stock has a 50 day moving average of $25.07 and a 200 day moving average of $23.71.
SKM has been the topic of a number of recent research reports. Credit Suisse Group cut shares of SK Telecom Co. from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 30th. BidaskClub cut shares of SK Telecom Co. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Zacks Investment Research upgraded shares of SK Telecom Co. from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research note on Thursday, April 20th. Citigroup Inc. restated a “neutral” rating on shares of SK Telecom Co. in a research note on Monday, April 24th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of SK Telecom Co. from a “neutral” rating to a “buy” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. SK Telecom Co. presently has an average rating of “Hold” and an average price target of $28.00.
SK Telecom Co. Company Profile
SK Telecom Co, Ltd. provides wireless telecommunications in Korea. The Company is engaged in the commercial development and implementation of wireless and fixed-line technologies and services, as well as develop its platforms, including Internet of things (IoT) solutions, lifestyle enhancement and advanced media.
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