Quadrant Capital Group LLC Cuts Position in SK Telecom Co., Ltd. (NYSE:SKM)

Posted by on Jun 8th, 2023

Quadrant Capital Group LLC trimmed its position in SK Telecom Co., Ltd. (NYSE:SKM – Get Rating) by 77.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,629 shares of the Wireless communications provider’s stock after selling 9,021 shares during the quarter. Quadrant Capital Group LLC’s holdings in SK Telecom were worth $54,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SKM. Robeco Institutional Asset Management B.V. purchased a new position in shares of SK Telecom in the 4th quarter worth about $35,724,000. Goldman Sachs Group Inc. grew its stake in shares of SK Telecom by 744.0% in the second quarter. Goldman Sachs Group Inc. now owns 671,890 shares of the Wireless communications provider’s stock valued at $14,996,000 after buying an additional 592,279 shares in the last quarter. BlackRock Inc. grew its stake in shares of SK Telecom by 47.6% in the first quarter. BlackRock Inc. now owns 1,316,978 shares of the Wireless communications provider’s stock valued at $33,754,000 after buying an additional 424,441 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of SK Telecom in the fourth quarter valued at about $6,370,000. Finally, Federated Hermes Inc. acquired a new stake in shares of SK Telecom in the first quarter valued at about $7,100,000. 4.92% of the stock is currently owned by hedge funds and other institutional investors.

SK Telecom Stock Performance

Shares of NYSE SKM opened at $21.24 on Thursday. SK Telecom Co., Ltd. has a fifty-two week low of $18.26 and a fifty-two week high of $24.92. The business has a 50 day moving average price of $20.46 and a two-hundred day moving average price of $20.56. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.88 and a current ratio of 0.90.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Nomura lowered SK Telecom from a “buy” rating to a “neutral” rating in a research note on Thursday, February 9th. StockNews.com initiated coverage on SK Telecom in a research note on Thursday, May 18th. They set a “buy” rating for the company.

SK Telecom Profile

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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.

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

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