SK Telecom Co., Ltd. (SKM) Stake Lifted by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its holdings in SK Telecom Co., Ltd. (NYSE:SKM) by 121.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,329,928 shares of the Wireless communications provider’s stock after acquiring an additional 1,275,825 shares during the period. Arrowstreet Capital Limited Partnership owned 0.36% of SK Telecom Co. worth $59,809,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Macquarie Group Ltd. raised its position in shares of SK Telecom Co. by 6.8% during the 2nd quarter. Macquarie Group Ltd. now owns 7,758,015 shares of the Wireless communications provider’s stock valued at $199,159,000 after purchasing an additional 493,515 shares during the period. JPMorgan Chase & Co. raised its position in shares of SK Telecom Co. by 8.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,524,444 shares of the Wireless communications provider’s stock valued at $90,471,000 after purchasing an additional 271,434 shares during the period. Bank of America Corp DE raised its position in shares of SK Telecom Co. by 22.3% during the 1st quarter. Bank of America Corp DE now owns 2,647,702 shares of the Wireless communications provider’s stock valued at $66,670,000 after purchasing an additional 483,598 shares during the period. Oldfield Partners LLP grew its stake in SK Telecom Co. by 7.2% during the second quarter. Oldfield Partners LLP now owns 2,566,174 shares of the Wireless communications provider’s stock valued at $65,874,000 after acquiring an additional 172,627 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in SK Telecom Co. by 0.7% during the second quarter. Janus Henderson Group PLC now owns 1,934,540 shares of the Wireless communications provider’s stock valued at $49,689,000 after acquiring an additional 12,625 shares in the last quarter. Institutional investors and hedge funds own 11.90% of the company’s stock.

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SK Telecom Co., Ltd. (SKM) traded down 0.08% during midday trading on Wednesday, hitting $26.15. 92,694 shares of the stock traded hands. The stock has a 50-day moving average of $24.71 and a 200 day moving average of $25.02. The firm has a market cap of $16.63 billion, a PE ratio of 9.38 and a beta of 0.35. SK Telecom Co., Ltd. has a 52-week low of $20.44 and a 52-week high of $28.13.

Several equities analysts recently weighed in on the stock. BidaskClub raised shares of SK Telecom Co. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research raised shares of SK Telecom Co. from a “hold” rating to a “strong-buy” rating and set a $32.00 price objective for the company in a research note on Tuesday, August 1st. Finally, Goldman Sachs Group, Inc. (The) raised shares of SK Telecom Co. from a “neutral” rating to a “buy” rating in a research note on Friday, July 21st. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $32.00.

SK Telecom Co. 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.

Institutional Ownership by Quarter for SK Telecom Co. (NYSE:SKM)

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