Trexquant Investment LP cut its position in shares of SK Telecom Co Ltd (NYSE:SKM) by 72.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,113 shares of the Wireless communications provider’s stock after selling 37,107 shares during the quarter. Trexquant Investment LP’s holdings in SK Telecom were worth $329,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in SKM. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of SK Telecom during the 1st quarter valued at about $131,000. Mount Yale Investment Advisors LLC bought a new position in shares of SK Telecom during the 1st quarter valued at about $161,000. Massachusetts Financial Services Co. MA bought a new position in shares of SK Telecom during the 1st quarter valued at about $250,000. Point View Wealth Management Inc. increased its position in shares of SK Telecom by 35.3% during the 1st quarter. Point View Wealth Management Inc. now owns 10,458 shares of the Wireless communications provider’s stock valued at $253,000 after purchasing an additional 2,727 shares during the last quarter. Finally, M&T Bank Corp increased its position in shares of SK Telecom by 42.6% during the 1st quarter. M&T Bank Corp now owns 10,928 shares of the Wireless communications provider’s stock valued at $264,000 after purchasing an additional 3,263 shares during the last quarter. Hedge funds and other institutional investors own 10.61% of the company’s stock.
SKM opened at $26.10 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 0.87. SK Telecom Co Ltd has a 1 year low of $22.66 and a 1 year high of $28.97. The company has a market cap of $16.52 billion, a P/E ratio of 5.23 and a beta of 0.44.
SK Telecom (NYSE:SKM) last posted its quarterly earnings results on Thursday, June 14th. The Wireless communications provider reported $1.02 earnings per share (EPS) for the quarter. SK Telecom had a return on equity of 20.25% and a net margin of 16.71%. The business had revenue of $3.89 billion for the quarter.
Separately, ValuEngine upgraded SK Telecom from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. SK Telecom currently has an average rating of “Hold” and an average price target of $30.00.
SK Telecom Profile
SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates in four segments: Cellular Services, Fixed-Line Telecommunication Services, E-Commerce Services, and Other Businesses. The Cellular Services segment offers wireless voice transmission and data transmission services; cellular global roaming services; interconnection services to connect its networks to fixed-line and other wireless networks; Internet of Things solutions; and platform services, as well as sells wireless devices, including smartphones and basic phones, tablets and other Internet access devices, and wearable devices.
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