Shares of SK Telecom Co., Ltd. (NYSE:SKM) have been assigned a consensus rating of “Buy” from the five ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $29.00.
SKM has been the subject of several recent analyst reports. BidaskClub cut shares of SK Telecom from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Zacks Investment Research cut shares of SK Telecom from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 27th. Finally, Citigroup upgraded shares of SK Telecom from a “neutral” rating to a “buy” rating in a research note on Friday.
Several hedge funds have recently added to or reduced their stakes in SKM. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of SK Telecom in the 3rd quarter worth $101,000. Bessemer Group Inc. lifted its stake in shares of SK Telecom by 68.6% in the 2nd quarter. Bessemer Group Inc. now owns 4,536 shares of the Wireless communications provider’s stock worth $116,000 after acquiring an additional 1,845 shares during the period. FNY Managed Accounts LLC acquired a new stake in shares of SK Telecom in the 3rd quarter worth $119,000. Fieldpoint Private Securities LLC acquired a new stake in shares of SK Telecom in the 3rd quarter worth $122,000. Finally, Rational Advisors LLC acquired a new stake in shares of SK Telecom in the 2nd quarter worth $139,000. Institutional investors own 11.41% of the company’s stock.
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About SK Telecom
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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