Legal & General Group Plc Reduces Position in SK Telecom Co Ltd (SKM)

Legal & General Group Plc lowered its stake in SK Telecom Co Ltd (NYSE:SKM) by 3.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 335,137 shares of the Wireless communications provider’s stock after selling 10,626 shares during the quarter. Legal & General Group Plc’s holdings in SK Telecom were worth $7,798,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SKM. Silchester International Investors LLP boosted its holdings in SK Telecom by 10.0% in the second quarter. Silchester International Investors LLP now owns 17,063,149 shares of the Wireless communications provider’s stock worth $397,913,000 after purchasing an additional 1,554,371 shares during the last quarter. LMR Partners LLP bought a new position in SK Telecom in the second quarter worth approximately $7,988,000. Bank of New York Mellon Corp bought a new position in SK Telecom in the second quarter worth approximately $7,030,000. Sensato Investors LLC raised its position in SK Telecom by 44.6% in the first quarter. Sensato Investors LLC now owns 594,864 shares of the Wireless communications provider’s stock worth $14,378,000 after acquiring an additional 183,363 shares during the period. Finally, Kempen Capital Management N.V. raised its position in SK Telecom by 14.9% in the first quarter. Kempen Capital Management N.V. now owns 1,284,100 shares of the Wireless communications provider’s stock worth $31,037,000 after acquiring an additional 166,550 shares during the period. Institutional investors own 10.61% of the company’s stock.

SKM opened at $27.46 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 0.87. SK Telecom Co Ltd has a 1-year low of $22.66 and a 1-year high of $28.97. The company has a market capitalization of $17.04 billion, a price-to-earnings ratio of 5.39 and a beta of 0.48.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Thursday, June 14th. The Wireless communications provider reported $1.02 earnings per share for the quarter. SK Telecom had a net margin of 16.71% and a return on equity of 20.25%. The business had revenue of $3.89 billion for the quarter.

Separately, ValuEngine downgraded shares of SK Telecom from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $30.00.

SK Telecom Profile

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates in four segments: Cellular Services, Fixed-Line Telecommunication Services, E-Commerce Services, and Other Businesses. The Cellular Services segment offers wireless voice transmission and data transmission services; cellular global roaming services; interconnection services to connect its networks to fixed-line and other wireless networks; Internet of Things solutions; and platform services, as well as sells wireless devices, including 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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