Renaissance Technologies LLC Has $918,000 Position in SK Telecom (SKM)

Renaissance Technologies LLC lessened its holdings in SK Telecom (NYSE:SKM) by 94.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,900 shares of the Wireless communications provider’s stock after selling 606,200 shares during the period. Renaissance Technologies LLC’s holdings in SK Telecom were worth $918,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SKM. Schwab Charles Investment Management Inc. increased its holdings in shares of SK Telecom by 10.1% in the third quarter. Schwab Charles Investment Management Inc. now owns 189,271 shares of the Wireless communications provider’s stock worth $4,655,000 after purchasing an additional 17,368 shares during the period. Oldfield Partners LLP boosted its position in SK Telecom by 2.1% during the fourth quarter. Oldfield Partners LLP now owns 2,792,924 shares of the Wireless communications provider’s stock valued at $77,950,000 after buying an additional 57,250 shares during the period. Suntrust Banks Inc. purchased a new stake in SK Telecom during the fourth quarter valued at about $401,000. Renaissance Group LLC boosted its position in SK Telecom by 1.1% during the fourth quarter. Renaissance Group LLC now owns 650,955 shares of the Wireless communications provider’s stock valued at $18,168,000 after buying an additional 6,849 shares during the period. Finally, Reilly Financial Advisors LLC purchased a new stake in SK Telecom during the fourth quarter valued at about $6,608,000. Institutional investors and hedge funds own 11.26% of the company’s stock.

SK Telecom opened at $23.25 on Monday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 0.87. SK Telecom has a fifty-two week low of $22.92 and a fifty-two week high of $28.97. The firm has a market cap of $14.78 billion, a P/E ratio of 6.35 and a beta of 0.46.

SK Telecom (NYSE:SKM) last announced its quarterly earnings results on Wednesday, February 21st. The Wireless communications provider reported $2.00 earnings per share (EPS) for the quarter. SK Telecom had a net margin of 16.16% and a return on equity of 20.30%. The company had revenue of $7.35 billion for the quarter.

SKM has been the subject of a number of analyst reports. CLSA lowered shares of SK Telecom from an “outperform” rating to an “underperform” rating in a report on Wednesday, January 24th. Zacks Investment Research raised shares of SK Telecom from a “hold” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research note on Friday, February 9th. ValuEngine downgraded shares of SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Macquarie downgraded shares of SK Telecom from an “outperform” rating to a “neutral” rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $30.00.

About SK Telecom

SK Telecom Co, Ltd. provides wireless telecommunications services in South Korea. It offers wireless voice transmission services; cellular global roaming services; and interconnection services to connect its networks to fixed-line and other wireless networks. The company also provides wireless data communication services that allow subscribers to text, graphic, audio, and video messages; and wireless Internet services.

Institutional Ownership by Quarter for SK Telecom (NYSE:SKM)

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