USA Financial Portformulas Corp acquired a new position in shares of SK Telecom Co Ltd (NYSE:SKM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 position in shares of SK Telecom in 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 acquired a new position in shares of SK Telecom in the fourth quarter valued at approximately $558,000. BancorpSouth Bank acquired a new position in shares of SK Telecom in the fourth quarter valued at approximately $205,000. Finally, Suntrust Banks Inc. acquired a new position in shares of SK Telecom in the fourth quarter valued at approximately $401,000. 11.16% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in 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. Macquarie downgraded shares of SK Telecom from an “outperform” rating to a “neutral” rating in a research report on Friday, February 23rd. Zacks Investment Research upgraded SK Telecom from a “hold” rating to a “strong-buy” rating and set a $30.00 target price on the stock in a report on Friday, February 9th. CLSA cut SK Telecom from an “outperform” rating to an “underperform” rating in a report on Wednesday, January 24th. Finally, Morgan Stanley restated an “equal weight” rating on shares of SK Telecom in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $30.00.
Shares of SK Telecom Co Ltd (SKM) traded down $0.13 on Wednesday, reaching $24.17. The company had a trading volume of 576,358 shares, compared to its average volume of 482,523. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. The stock has a market cap of $15,621.70, a price-to-earnings ratio of 7.03 and a beta of 0.45. SK Telecom Co Ltd has a 52 week low of $23.01 and a 52 week high of $28.97.
SK Telecom 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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