Massachusetts Financial Services Co. MA purchased a new position in SK Telecom Co Ltd (NYSE:SKM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,326 shares of the Wireless communications provider’s stock, valued at approximately $250,000.
Several other institutional investors also recently bought and sold shares of the stock. Suntrust Banks Inc. purchased a new stake in SK Telecom during the 4th quarter valued at $401,000. Renaissance Group LLC boosted its stake in SK Telecom by 1.1% during the 4th quarter. Renaissance Group LLC now owns 650,955 shares of the Wireless communications provider’s stock valued at $18,168,000 after purchasing an additional 6,849 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in SK Telecom by 47.1% during the 4th quarter. Eagle Asset Management Inc. now owns 13,782 shares of the Wireless communications provider’s stock valued at $368,000 after purchasing an additional 4,412 shares during the last quarter. Reilly Financial Advisors LLC purchased a new stake in SK Telecom during the 4th quarter valued at $6,608,000. Finally, Cullen Capital Management LLC purchased a new stake in SK Telecom during the 4th quarter valued at $379,000. Institutional investors own 10.97% of the company’s stock.
Several brokerages have commented on SKM. ValuEngine downgraded SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 2nd. 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 research note on Friday, February 9th. Finally, Macquarie downgraded SK Telecom from an “outperform” rating to a “neutral” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $30.00.
NYSE SKM opened at $22.85 on Friday. The firm has a market cap of $14.73 billion, a PE ratio of 6.24 and a beta of 0.46. 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 Co Ltd has a 1-year low of $22.66 and a 1-year high of $28.97.
SK Telecom (NYSE:SKM) last released its quarterly earnings results on Wednesday, February 21st. The Wireless communications provider reported $2.00 earnings per share for the quarter. The firm had revenue of $7.35 billion for the quarter. SK Telecom had a return on equity of 20.30% and a net margin of 16.16%.
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.
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