USA Financial Portformulas Corp bought a new stake in SK Telecom Co Ltd (NYSE:SKM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,596 shares of the Wireless communications provider’s stock, valued at approximately $491,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. 180 Wealth Advisors LLC bought a new stake in SK Telecom during the fourth quarter worth about $468,000. Assetmark Inc. lifted its holdings in shares of SK Telecom by 56.2% in the fourth quarter. Assetmark Inc. now owns 824,830 shares of the Wireless communications provider’s stock worth $23,021,000 after acquiring an additional 296,778 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of SK Telecom in the fourth quarter worth about $558,000. BancorpSouth Bank bought a new position in shares of SK Telecom in the fourth quarter worth about $205,000. Finally, Suntrust Banks Inc. bought a new position in shares of SK Telecom in the fourth quarter worth about $401,000. 11.16% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on the stock. ValuEngine downgraded shares of SK Telecom from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 7th. Zacks Investment Research cut SK Telecom from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Macquarie cut SK Telecom from an “outperform” rating to a “neutral” rating in a research note on Friday, February 23rd. Morgan Stanley restated an “equal weight” rating on shares of SK Telecom in a research note on Thursday, January 11th. Finally, Citigroup raised SK Telecom from a “neutral” rating to a “buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. SK Telecom presently has a consensus rating of “Hold” and an average price target of $30.00.
Shares of SK Telecom Co Ltd (SKM) traded down $0.13 on Wednesday, hitting $24.17. The stock had a trading volume of 576,358 shares, compared to its average volume of 482,523. The company has a market cap of $15,621.70, a P/E ratio of 7.03 and a beta of 0.45. SK Telecom Co Ltd has a 12-month low of $23.01 and a 12-month high of $28.97. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32.
SK Telecom 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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