Eqis Capital Management Inc. reduced its position in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 24.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,650 shares of the Wireless communications provider’s stock after selling 4,837 shares during the period. Eqis Capital Management Inc.’s holdings in SK Telecom Co. were worth $376,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Comerica Bank increased its position in 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 in the last quarter. Renaissance Technologies LLC increased its position in 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 in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position 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 in the last quarter. Norges Bank bought a new position in SK Telecom Co. during the fourth quarter worth $808,000. Finally, Macquarie Group Ltd. increased its position in SK Telecom Co. by 5.8% in the fourth quarter. Macquarie Group Ltd. now owns 6,598,486 shares of the Wireless communications provider’s stock worth $137,893,000 after buying an additional 360,961 shares in the last quarter. 11.87% of the stock is currently owned by institutional investors and hedge funds.
SK Telecom Co., Ltd. (NYSE:SKM) opened at 26.17 on Friday. The stock’s 50 day moving average price is $26.30 and its 200 day moving average price is $24.33. The company has a market capitalization of $16.87 billion, a P/E ratio of 9.42 and a beta of 0.35. SK Telecom Co., Ltd. has a 52 week low of $20.44 and a 52 week high of $28.13.
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A number of research analysts have weighed in on SKM shares. Credit Suisse Group downgraded SK Telecom Co. from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 30th. Goldman Sachs Group, Inc. (The) upgraded SK Telecom Co. from a “neutral” rating to a “buy” rating in a research note on Friday, July 21st. Zacks Investment Research upgraded SK Telecom Co. from a “hold” rating to a “strong-buy” rating and set a $32.00 price target for the company in a research note on Tuesday, August 1st. BidaskClub downgraded SK Telecom Co. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Citigroup Inc restated a “neutral” rating on shares of SK Telecom Co. in a research note on Monday, April 24th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $32.00.
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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