OVERSEA CHINESE BANKING Corp Ltd Decreases Stock Position in SK Telecom Co., Ltd. (NYSE:SKM)

OVERSEA CHINESE BANKING Corp Ltd reduced its holdings in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 50.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 60,835 shares of the Wireless communications provider’s stock after selling 60,835 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in SK Telecom were worth $1,446,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Promethos Capital LLC acquired a new stake in shares of SK Telecom in the first quarter valued at approximately $5,875,000. Teachers Retirement System of The State of Kentucky acquired a new stake in SK Telecom during the 1st quarter valued at $3,364,000. Acadian Asset Management LLC increased its position in SK Telecom by 79.6% during the first quarter. Acadian Asset Management LLC now owns 281,508 shares of the Wireless communications provider’s stock worth $6,068,000 after buying an additional 124,739 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of SK Telecom by 4.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,009 shares of the Wireless communications provider’s stock worth $55,979,000 after acquiring an additional 98,323 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of SK Telecom in the second quarter valued at $1,570,000.

SK Telecom Stock Performance

Shares of SKM opened at $22.16 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.98 and a quick ratio of 0.95. SK Telecom Co., Ltd. has a 1 year low of $19.88 and a 1 year high of $24.58. The company’s 50 day simple moving average is $23.33 and its 200 day simple moving average is $22.15.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut SK Telecom from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th.

SK Telecom Profile

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.