Wellington Management Group LLP Sells 52,252 Shares of SK Telecom Co., Ltd. (NYSE:SKM)

Wellington Management Group LLP lessened its position in SK Telecom Co., Ltd. (NYSE:SKMFree Report) by 10.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 427,541 shares of the Wireless communications provider’s stock after selling 52,252 shares during the period. Wellington Management Group LLP’s holdings in SK Telecom were worth $9,175,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Scotia Capital Inc. grew its position in shares of SK Telecom by 7.2% in the 3rd quarter. Scotia Capital Inc. now owns 31,290 shares of the Wireless communications provider’s stock valued at $672,000 after acquiring an additional 2,105 shares during the period. Natixis Advisors L.P. boosted its holdings in shares of SK Telecom by 9.9% during the 3rd quarter. Natixis Advisors L.P. now owns 42,815 shares of the Wireless communications provider’s stock worth $919,000 after buying an additional 3,864 shares during the period. Cibc World Market Inc. boosted its holdings in shares of SK Telecom by 2.8% during the 2nd quarter. Cibc World Market Inc. now owns 131,126 shares of the Wireless communications provider’s stock worth $2,558,000 after buying an additional 3,603 shares during the period. First Trust Direct Indexing L.P. boosted its holdings in shares of SK Telecom by 6.3% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 63,291 shares of the Wireless communications provider’s stock worth $1,358,000 after buying an additional 3,772 shares during the period. Finally, D.A. Davidson & CO. bought a new stake in shares of SK Telecom during the 2nd quarter worth about $204,000.

Analyst Upgrades and Downgrades

Several analysts recently commented on SKM shares. TheStreet raised shares of SK Telecom from a “c+” rating to a “b-” rating in a report on Wednesday, November 29th. Nomura reiterated a “reduce” rating on shares of SK Telecom in a research note on Monday, February 5th. Finally, StockNews.com cut shares of SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 20th.

Read Our Latest Research Report on SK Telecom

SK Telecom Price Performance

Shares of SK Telecom stock opened at $22.00 on Monday. SK Telecom Co., Ltd. has a twelve month low of $18.52 and a twelve month high of $22.71. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.61. The company has a 50-day simple moving average of $21.51 and a two-hundred day simple moving average of $21.23. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of 50.00, a price-to-earnings-growth ratio of 1.17 and a beta of 0.74.

SK Telecom Company Profile

(Free Report)

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.

Further Reading

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

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