Trexquant Investment LP acquired a new position in SK Telecom Co., Ltd. (NYSE:SKM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,818 shares of the Wireless communications provider’s stock, valued at approximately $329,000.
Several other institutional investors also recently made changes to their positions in SKM. Bessemer Group Inc. increased its position in shares of SK Telecom Co. by 68.6% in the second quarter. Bessemer Group Inc. now owns 4,536 shares of the Wireless communications provider’s stock worth $116,000 after buying an additional 1,845 shares during the period. Cypress Capital Management LLC WY acquired a new position in shares of SK Telecom Co. during the second quarter worth about $145,000. Mirador Capital Partners LP acquired a new position in shares of SK Telecom Co. during the first quarter worth about $203,000. Paloma Partners Management Co acquired a new position in shares of SK Telecom Co. during the first quarter worth about $203,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of SK Telecom Co. during the first quarter worth about $223,000. 11.75% of the stock is owned by institutional investors and hedge funds.
Shares of SK Telecom Co., Ltd. (NYSE:SKM) opened at 25.67 on Friday. SK Telecom Co., Ltd. has a 52 week low of $20.44 and a 52 week high of $28.13. The stock has a market cap of $16.55 billion, a PE ratio of 9.24 and a beta of 0.35. The firm has a 50-day moving average price of $26.42 and a 200-day moving average price of $24.51.
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SKM has been the subject of a number of research analyst reports. Credit Suisse Group downgraded SK Telecom Co. from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 30th. Goldman Sachs Group, Inc. (The) raised SK Telecom Co. from a “neutral” rating to a “buy” rating in a report on Friday, July 21st. Zacks Investment Research raised SK Telecom Co. from a “hold” rating to a “strong-buy” rating and set a $32.00 price target for the company in a report on Tuesday, August 1st. BidaskClub downgraded SK Telecom Co. from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Citigroup Inc. reaffirmed a “neutral” rating on shares of SK Telecom Co. in a report on Monday, April 24th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. SK Telecom Co. has an average rating of “Buy” and a consensus price target of $32.00.
SK Telecom Co. Company Profile
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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