SK Telecom Co Ltd (SKM) Holdings Reduced by Todd Asset Management LLC
Todd Asset Management LLC trimmed its position in shares of SK Telecom Co Ltd (NYSE:SKM) by 5.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 101,300 shares of the Wireless communications provider’s stock after selling 5,700 shares during the quarter. Todd Asset Management LLC’s holdings in SK Telecom were worth $2,481,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mckinley Capital Management LLC Delaware bought a new stake in shares of SK Telecom in the fourth quarter valued at about $38,000. Investors Research Corp bought a new stake in shares of SK Telecom in the first quarter valued at about $64,000. Lindbrook Capital LLC bought a new stake in shares of SK Telecom in the fourth quarter valued at about $65,000. Aspire Private Capital LLC bought a new stake in shares of SK Telecom in the fourth quarter valued at about $85,000. Finally, Financial Gravity Wealth Inc. bought a new stake in shares of SK Telecom in the first quarter valued at about $89,000. 10.38% of the stock is owned by institutional investors.
Several analysts recently weighed in on SKM shares. Zacks Investment Research downgraded SK Telecom from a “hold” rating to a “sell” rating in a report on Saturday, April 20th. Macquarie initiated coverage on shares of SK Telecom in a report on Tuesday. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. SK Telecom presently has an average rating of “Hold”.
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SK Telecom Profile
SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. It operates in four segments: Cellular Services, Fixed-Line Telecommunication Services, E-Commerce Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission services; cellular global roaming services; interconnection services; Internet of Things solutions; and platform services, as well as sells smartphones and basic phones, tablets and other Internet access devices, and wearable devices.
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