Pekin Singer Strauss Asset Management IL reduced its position in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 11.0% during the second quarter, Holdings Channel reports. The firm owned 707,140 shares of the Wireless communications provider’s stock after selling 87,340 shares during the period. SK Telecom Co. makes up 2.9% of Pekin Singer Strauss Asset Management IL’s investment portfolio, making the stock its 4th largest position. Pekin Singer Strauss Asset Management IL’s holdings in SK Telecom Co. were worth $18,152,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake 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 last quarter. Cypress Capital Management LLC WY acquired a new stake in shares of SK Telecom Co. during the second quarter worth approximately $145,000. Mirador Capital Partners LP acquired a new stake in shares of SK Telecom Co. during the first quarter worth approximately $203,000. Paloma Partners Management Co acquired a new stake in shares of SK Telecom Co. during the first quarter worth approximately $203,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of SK Telecom Co. during the first quarter worth approximately $223,000. Institutional investors and hedge funds own 11.87% of the company’s stock.

Shares of SK Telecom Co., Ltd. (SKM) opened at 25.99 on Friday. The firm’s 50-day moving average price is $26.32 and its 200-day moving average price is $24.37. The firm has a market capitalization of $16.76 billion, a price-to-earnings ratio of 9.35 and a beta of 0.35. SK Telecom Co., Ltd. has a 12 month low of $20.44 and a 12 month high of $28.13.

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A number of equities research analysts have commented on the company. BidaskClub lowered SK Telecom Co. from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Investment Research lowered SK Telecom Co. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Citigroup Inc. restated a “neutral” rating on shares of SK Telecom Co. in a research report on Monday, April 24th. Goldman Sachs Group, Inc. (The) upgraded SK Telecom Co. from a “neutral” rating to a “buy” rating in a research report on Friday, July 21st. Finally, Credit Suisse Group lowered SK Telecom Co. from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 30th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock presently 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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Institutional Ownership by Quarter for SK Telecom Co. (NYSE:SKM)

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