Renaissance Technologies LLC cut its holdings in SK Telecom Co Ltd (NYSE:SKM) by 94.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,900 shares of the Wireless communications provider’s stock after selling 606,200 shares during the quarter. Renaissance Technologies LLC’s holdings in SK Telecom were worth $918,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in SKM. BancorpSouth Bank bought a new stake in SK Telecom in the 4th quarter valued at $205,000. Point View Wealth Management Inc. acquired a new stake in SK Telecom in the 4th quarter valued at $216,000. Signaturefd LLC acquired a new stake in SK Telecom in the 4th quarter valued at $233,000. Picton Mahoney Asset Management increased its stake in SK Telecom by 29.3% in the 4th quarter. Picton Mahoney Asset Management now owns 9,700 shares of the Wireless communications provider’s stock valued at $269,000 after buying an additional 2,200 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its stake in SK Telecom by 47.1% in the 4th quarter. Eagle Asset Management Inc. now owns 13,782 shares of the Wireless communications provider’s stock valued at $368,000 after buying an additional 4,412 shares during the last quarter. 10.97% of the stock is currently owned by hedge funds and other institutional investors.
SKM has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of SK Telecom from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, January 23rd. CLSA lowered shares of SK Telecom from an “outperform” rating to an “underperform” rating in a research note on Wednesday, January 24th. Macquarie lowered shares of SK Telecom from an “outperform” rating to a “neutral” rating in a research note on Friday, February 23rd. Finally, ValuEngine upgraded shares of SK Telecom from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $30.00.
Shares of SK Telecom opened at $23.07 on Tuesday, MarketBeat.com reports. SK Telecom Co Ltd has a 1-year low of $22.74 and a 1-year high of $28.97. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 0.32. The company has a market cap of $14.63 billion, a PE ratio of 6.30 and a beta of 0.46.
SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Wednesday, February 21st. The Wireless communications provider reported $2.00 earnings per share 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 during the quarter.
SK Telecom Profile
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.
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