Hexavest Inc. lessened its holdings in shares of SK Telecom Co Ltd (NYSE:SKM) by 9.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 300,667 shares of the Wireless communications provider’s stock after selling 30,905 shares during the period. Hexavest Inc.’s holdings in SK Telecom were worth $8,392,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of SK Telecom during the 3rd quarter valued at $101,000. FNY Managed Accounts LLC bought a new stake in shares of SK Telecom during the 3rd quarter valued at $119,000. Fieldpoint Private Securities LLC bought a new stake in shares of SK Telecom during the 3rd quarter valued at $122,000. Picton Mahoney Asset Management bought a new stake in shares of SK Telecom during the 2nd quarter valued at $194,000. Finally, Bessemer Group Inc. boosted its holdings in shares of SK Telecom by 66.9% during the 3rd quarter. Bessemer Group Inc. now owns 7,569 shares of the Wireless communications provider’s stock valued at $186,000 after buying an additional 3,033 shares in the last quarter. Hedge funds and other institutional investors own 11.40% of the company’s stock.

A number of analysts have recently commented on SKM shares. Zacks Investment Research upgraded shares of SK Telecom from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Wednesday, November 8th. Citigroup upgraded shares of SK Telecom from a “neutral” rating to a “buy” rating in a report on Friday, December 1st. Finally, Morgan Stanley restated an “equal weight” rating on shares of SK Telecom in a report on Thursday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. SK Telecom presently has an average rating of “Buy” and an average price target of $31.00.

Shares of SK Telecom Co Ltd (SKM) opened at $27.80 on Friday. SK Telecom Co Ltd has a fifty-two week low of $20.94 and a fifty-two week high of $28.76. The company has a market cap of $17,617.31, a price-to-earnings ratio of 8.08, a PEG ratio of 1.08 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.90 and a debt-to-equity ratio of 0.33.

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SK Telecom 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 (NYSE:SKM)

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