Panagora Asset Management Inc. lifted its stake in shares of SK Telecom Co Ltd (NYSE:SKM) by 29.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,969 shares of the Wireless communications provider’s stock after buying an additional 10,987 shares during the quarter. Panagora Asset Management Inc.’s holdings in SK Telecom were worth $1,187,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Next Capital Management LLC acquired a new position in shares of SK Telecom during the second quarter worth about $26,000. Icon Wealth Partners LLC acquired a new position in SK Telecom in the first quarter valued at approximately $36,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in SK Telecom in the second quarter valued at approximately $42,000. Steward Partners Investment Advisory LLC acquired a new position in SK Telecom in the second quarter valued at approximately $52,000. Finally, Lindbrook Capital LLC boosted its holdings in SK Telecom by 24.4% in the second quarter. Lindbrook Capital LLC now owns 3,171 shares of the Wireless communications provider’s stock valued at $78,000 after purchasing an additional 622 shares in the last quarter. 10.54% of the stock is owned by institutional investors and hedge funds.
SKM traded down $0.09 on Thursday, reaching $22.39. The company’s stock had a trading volume of 13,110 shares, compared to its average volume of 370,575. The stock has a 50 day moving average of $22.12 and a two-hundred day moving average of $23.78. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $14.27 billion, a price-to-earnings ratio of 5.02 and a beta of 0.31. SK Telecom Co Ltd has a fifty-two week low of $21.22 and a fifty-two week high of $28.56.
A number of equities analysts recently issued reports on the company. Macquarie assumed coverage on SK Telecom in a report on Tuesday, May 21st. They issued an “outperform” rating for the company. Morgan Stanley raised SK Telecom from an “equal weight” rating to an “overweight” rating in a report on Monday, August 26th. ValuEngine downgraded SK Telecom from a “hold” rating to a “sell” rating in a report on Monday, July 8th. Finally, Zacks Investment Research downgraded SK Telecom from a “buy” rating to a “hold” rating in a report on Saturday, July 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy”.
SK Telecom Company Profile
SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. It operates in four segments: Cellular Services, Fixed-Line Telecommunication Services, E-Commerce Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission services; cellular global roaming services; interconnection services; Internet of Things solutions; and platform services, as well as sells smartphones and basic phones, tablets and other Internet access devices, and wearable devices.
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