Acadian Asset Management LLC Buys 245,550 Shares of SK Telecom Co., Ltd. (NYSE:SKM)

Acadian Asset Management LLC boosted its position in SK Telecom Co., Ltd. (NYSE:SKM) by 219.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 357,322 shares of the Wireless communications provider’s stock after buying an additional 245,550 shares during the period. Acadian Asset Management LLC owned about 0.06% of SK Telecom Co. worth $9,173,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SKM. Amerigo Asset Management acquired a new stake in SK Telecom Co. during the first quarter valued at $40,378,000. Karp Capital Management Corp acquired a new stake in SK Telecom Co. during the first quarter valued at $18,941,000. Macquarie Group Ltd. raised its stake in SK Telecom Co. by 10.1% in the first quarter. Macquarie Group Ltd. now owns 7,264,500 shares of the Wireless communications provider’s stock valued at $182,928,000 after buying an additional 666,014 shares during the last quarter. Bank of America Corp DE raised its stake in SK Telecom Co. by 22.3% in the first quarter. Bank of America Corp DE now owns 2,647,702 shares of the Wireless communications provider’s stock valued at $66,670,000 after buying an additional 483,598 shares during the last quarter. Finally, JHL Capital Group LLC raised its stake in SK Telecom Co. by 23.8% in the first quarter. JHL Capital Group LLC now owns 1,300,000 shares of the Wireless communications provider’s stock valued at $32,734,000 after buying an additional 250,000 shares during the last quarter. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Shares of SK Telecom Co., Ltd. (NYSE SKM) opened at 25.34 on Friday. SK Telecom Co., Ltd. has a one year low of $20.44 and a one year high of $28.13. The firm has a 50-day moving average of $26.41 and a 200-day moving average of $24.54. The firm has a market capitalization of $16.34 billion, a P/E ratio of 9.12 and a beta of 0.35.

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Several equities analysts have recently commented on the stock. Citigroup Inc. restated a “neutral” rating on shares of SK Telecom Co. in a research report on Monday, April 24th. BidaskClub upgraded shares of SK Telecom Co. from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research lowered shares of SK Telecom Co. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Credit Suisse Group downgraded shares of SK Telecom Co. from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 30th. Finally, Goldman Sachs Group, Inc. (The) raised shares of SK Telecom Co. from a “neutral” rating to a “buy” rating in a report on Friday, July 21st. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. SK Telecom Co. has a consensus rating of “Buy” and a consensus target price of $32.00.

About SK Telecom Co.

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.

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

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