Wells Fargo & Company MN reduced its stake in shares of SK Telecom Co Ltd (NYSE:SKM) by 48.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 451,316 shares of the Wireless communications provider’s stock after selling 422,099 shares during the period. Wells Fargo & Company MN’s holdings in SK Telecom were worth $12,596,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of SK Telecom during the 3rd quarter worth about $101,000. FNY Managed Accounts LLC purchased a new position in shares of SK Telecom during the 3rd quarter worth about $119,000. Fieldpoint Private Securities LLC purchased a new position in shares of SK Telecom during the 3rd quarter worth about $122,000. Bessemer Group Inc. lifted 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 worth $186,000 after acquiring an additional 3,033 shares during the period. Finally, Stevens Capital Management LP purchased a new position in shares of SK Telecom during the 3rd quarter worth about $200,000. Institutional investors and hedge funds own 11.16% of the company’s stock.
SK Telecom Co Ltd (NYSE:SKM) opened at $24.70 on Friday. SK Telecom Co Ltd has a 1-year low of $23.01 and a 1-year high of $28.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market cap of $15,399.25, a P/E ratio of 7.18 and a beta of 0.45.
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About SK Telecom
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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