SK Telecom Co Ltd (SKM) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its position in shares of SK Telecom Co Ltd (NYSE:SKM) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 515,770 shares of the Wireless communications provider’s stock after selling 7,447 shares during the period. Hsbc Holdings PLC owned 0.08% of SK Telecom worth $14,350,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stevens Capital Management LP bought a new stake in SK Telecom during the 3rd quarter valued at $209,000. Panagora Asset Management Inc. grew its position in SK Telecom by 31.7% in the third quarter. Panagora Asset Management Inc. now owns 48,503 shares of the Wireless communications provider’s stock worth $1,352,000 after acquiring an additional 11,686 shares in the last quarter. Freestone Capital Holdings LLC purchased a new position in SK Telecom in the third quarter worth $278,000. FMR LLC purchased a new position in SK Telecom in the third quarter worth $19,334,000. Finally, BlackRock Inc. grew its position in SK Telecom by 134.7% in the third quarter. BlackRock Inc. now owns 526,716 shares of the Wireless communications provider’s stock worth $14,685,000 after acquiring an additional 302,313 shares in the last quarter. Institutional investors own 10.78% of the company’s stock.

Separately, HSBC upgraded shares of SK Telecom from a “hold” rating to a “buy” rating in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. SK Telecom presently has an average rating of “Hold” and a consensus price target of $30.00.

Shares of NYSE:SKM opened at $28.37 on Monday. SK Telecom Co Ltd has a 52-week low of $22.66 and a 52-week high of $28.97. The firm has a market capitalization of $18.03 billion, a P/E ratio of 7.75, a P/E/G ratio of 0.42 and a beta of 0.52. The company has a quick ratio of 1.31, a current ratio of 1.36 and a debt-to-equity ratio of 0.32.

SK Telecom (NYSE:SKM) last announced its earnings results on Friday, September 14th. The Wireless communications provider reported $1.33 earnings per share (EPS) for the quarter. SK Telecom had a net margin of 18.28% and a return on equity of 20.22%. The company had revenue of $3.86 billion during the quarter. Sell-side analysts predict that SK Telecom Co Ltd will post 4.21 EPS for the current year.

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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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