Nordea Investment Management AB reduced its stake in shares of SK Telecom Co Ltd (NYSE:SKM) by 7.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,739,277 shares of the Wireless communications provider’s stock after selling 220,221 shares during the quarter. Nordea Investment Management AB owned about 0.43% of SK Telecom worth $67,085,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Mckinley Capital Management LLC Delaware bought a new position in shares of SK Telecom in the fourth quarter worth $38,000. Icon Wealth Partners LLC bought a new position in shares of SK Telecom in the first quarter worth $36,000. Lindbrook Capital LLC acquired a new stake in shares of SK Telecom in the fourth quarter valued at $65,000. Investors Research Corp acquired a new stake in shares of SK Telecom in the first quarter valued at $64,000. Finally, Aspire Private Capital LLC acquired a new stake in shares of SK Telecom in the fourth quarter valued at $85,000. Hedge funds and other institutional investors own 10.31% of the company’s stock.
SK Telecom stock traded up $0.15 during mid-day trading on Wednesday, hitting $24.02. The company’s stock had a trading volume of 440,100 shares, compared to its average volume of 377,048. The company has a current ratio of 1.05, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. SK Telecom Co Ltd has a 52-week low of $23.14 and a 52-week high of $28.56. The stock’s 50 day moving average is $24.18. The firm has a market cap of $15.45 billion, a P/E ratio of 5.39 and a beta of 0.29.
SK Telecom Company Profile
SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. It operates in four segments: Cellular Services, Fixed-Line Telecommunication Services, E-Commerce Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission services; cellular global roaming services; interconnection services; Internet of Things solutions; and platform services, as well as sells smartphones and basic phones, tablets and other Internet access devices, and wearable devices.
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