Rational Advisors LLC bought a new position in SK Telecom Co., Ltd. (NYSE:SKM) during the second quarter, Holdings Channel reports. The institutional investor bought 5,400 shares of the Wireless communications provider’s stock, valued at approximately $139,000.

A number of other large investors have also recently added to or reduced their stakes in SKM. Amerigo Asset Management purchased a new stake in SK Telecom Co. during the first quarter worth $40,378,000. Sei Investments Co. increased its stake in SK Telecom Co. by 610.9% in the second quarter. Sei Investments Co. now owns 978,702 shares of the Wireless communications provider’s stock worth $25,123,000 after buying an additional 841,038 shares during the period. Karp Capital Management Corp purchased a new stake in SK Telecom Co. during the first quarter worth $18,941,000. Macquarie Group Ltd. increased its stake in SK Telecom Co. by 10.1% in the first quarter. Macquarie Group Ltd. now owns 7,264,500 shares of the Wireless communications provider’s stock worth $182,928,000 after buying an additional 666,014 shares during the period. Finally, Bank of America Corp DE increased its stake in SK Telecom Co. by 22.3% in the first quarter. Bank of America Corp DE now owns 2,647,702 shares of the Wireless communications provider’s stock worth $66,670,000 after buying an additional 483,598 shares during the period. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Shares of SK Telecom Co., Ltd. (NYSE:SKM) opened at 26.55 on Wednesday. SK Telecom Co., Ltd. has a 52-week low of $20.44 and a 52-week high of $28.13. The company’s 50-day moving average price is $26.40 and its 200-day moving average price is $24.49. The firm has a market capitalization of $17.12 billion, a P/E ratio of 9.55 and a beta of 0.35.

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A number of equities research analysts recently weighed in on SKM shares. Citigroup Inc. reissued a “neutral” rating on shares of SK Telecom Co. in a research report on Monday, April 24th. Zacks Investment Research raised SK Telecom Co. from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Thursday, April 20th. BidaskClub raised SK Telecom Co. from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Credit Suisse Group downgraded SK Telecom Co. from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 30th. Finally, Goldman Sachs Group, Inc. (The) raised SK Telecom Co. from a “neutral” rating to a “buy” rating in a research report on Friday, July 21st. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $32.00.

About SK Telecom Co.

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

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