Invesco Ltd. Sells 8,219 Shares of SK Telecom Co Ltd (NYSE:SKM)

Invesco Ltd. lowered its position in shares of SK Telecom Co Ltd (NYSE:SKM) by 10.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,323 shares of the Wireless communications provider’s stock after selling 8,219 shares during the period. Invesco Ltd.’s holdings in SK Telecom were worth $1,765,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SKM. Silchester International Investors LLP increased its stake in shares of SK Telecom by 11.4% during the second quarter. Silchester International Investors LLP now owns 13,670,928 shares of the Wireless communications provider’s stock worth $338,355,000 after acquiring an additional 1,399,376 shares during the period. Stevens Capital Management LP grew its position in shares of SK Telecom by 54.7% in the second quarter. Stevens Capital Management LP now owns 16,622 shares of the Wireless communications provider’s stock valued at $411,000 after purchasing an additional 5,877 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of SK Telecom in the second quarter valued at approximately $52,000. Landsberg Bennett & Dubbaneh LLC grew its position in shares of SK Telecom by 8.7% in the second quarter. Landsberg Bennett & Dubbaneh LLC now owns 38,394 shares of the Wireless communications provider’s stock valued at $949,000 after purchasing an additional 3,066 shares during the last quarter. Finally, Greenleaf Trust grew its position in shares of SK Telecom by 31.0% in the second quarter. Greenleaf Trust now owns 60,879 shares of the Wireless communications provider’s stock valued at $1,507,000 after purchasing an additional 14,424 shares during the last quarter. Hedge funds and other institutional investors own 10.39% of the company’s stock.

NYSE:SKM traded down $0.10 during trading hours on Friday, reaching $23.26. 204,246 shares of the company were exchanged, compared to its average volume of 358,161. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.05 and a quick ratio of 1.02. The firm has a market cap of $14.96 billion, a price-to-earnings ratio of 5.22 and a beta of 0.35. SK Telecom Co Ltd has a 52-week low of $21.22 and a 52-week high of $28.56. The stock has a 50 day simple moving average of $22.37 and a 200 day simple moving average of $23.13.

Several analysts have recently commented on SKM shares. Morgan Stanley upgraded shares of SK Telecom from an “equal weight” rating to an “overweight” rating in a research report on Monday, August 26th. ValuEngine downgraded shares of SK Telecom from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. raised shares of SK Telecom from a “neutral” rating to an “overweight” rating in a research note on Thursday, October 31st. Finally, Zacks Investment Research raised shares of SK Telecom from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $26.00.

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

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