SK Telecom Co., Ltd. (NYSE:SKM) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lowered its position in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 50.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,835 shares of the Wireless communications provider’s stock after selling 60,835 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in SK Telecom were worth $1,446,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in SK Telecom by 27.8% during the third quarter. GAMMA Investing LLC now owns 2,246 shares of the Wireless communications provider’s stock worth $53,000 after purchasing an additional 488 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of SK Telecom by 104.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the Wireless communications provider’s stock worth $55,000 after buying an additional 1,372 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of SK Telecom by 57.6% in the 3rd quarter. Assetmark Inc. now owns 2,949 shares of the Wireless communications provider’s stock valued at $70,000 after buying an additional 1,078 shares during the period. Ariadne Wealth Management LP purchased a new stake in shares of SK Telecom in the second quarter valued at approximately $127,000. Finally, PDS Planning Inc acquired a new position in SK Telecom during the third quarter worth $200,000.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded SK Telecom from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th.

SK Telecom Price Performance

Shares of SK Telecom stock opened at $22.16 on Wednesday. The company has a 50-day moving average of $23.33 and a two-hundred day moving average of $22.15. SK Telecom Co., Ltd. has a 12-month low of $19.88 and a 12-month high of $24.58. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.60.

SK Telecom Profile

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.