Cypress Capital Management LLC WY acquired a new stake in SK Telecom Co., Ltd. (NYSE:SKM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,660 shares of the Wireless communications provider’s stock, valued at approximately $145,000.
Several other institutional investors have also modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. increased its stake in SK Telecom Co. by 6.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,379 shares of the Wireless communications provider’s stock worth $114,000 after buying an additional 318 shares during the period. Mirador Capital Partners LP bought a new stake in shares of SK Telecom Co. during the first quarter worth approximately $203,000. Paloma Partners Management Co bought a new stake in shares of SK Telecom Co. during the first quarter worth approximately $203,000. Quantitative Systematic Strategies LLC bought a new stake in shares of SK Telecom Co. during the first quarter worth approximately $223,000. Finally, Greenleaf Trust bought a new stake in shares of SK Telecom Co. during the first quarter worth approximately $227,000. Institutional investors and hedge funds own 11.74% of the company’s stock.
SK Telecom Co., Ltd. (NYSE SKM) traded down 0.69% on Monday, reaching $27.32. 306,433 shares of the company traded hands. SK Telecom Co., Ltd. has a 52-week low of $20.44 and a 52-week high of $27.89. The firm has a market cap of $17.38 billion, a P/E ratio of 11.63 and a beta of 0.34. The stock has a 50-day moving average price of $25.52 and a 200-day moving average price of $23.97.
Several brokerages have issued reports on SKM. Citigroup Inc. reissued a “neutral” rating on shares of SK Telecom Co. in a research note on Monday, April 24th. Credit Suisse Group downgraded 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 report on Wednesday, July 12th. Zacks Investment Research cut shares of SK Telecom Co. from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 6th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of SK Telecom Co. from a “neutral” rating to a “buy” rating in a report on Friday, July 21st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price 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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