River Road Asset Management LLC reduced its holdings in shares of SK Telecom Co.,Ltd (NYSE:SKM) by 24.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 6,632 shares of the Wireless communications provider’s stock after selling 2,166 shares during the quarter. River Road Asset Management LLC’s holdings in SK Telecom Co.,Ltd were worth $208,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. grew its stake in SK Telecom Co.,Ltd by 106.5% during the 1st quarter. BlackRock Inc. now owns 2,404,856 shares of the Wireless communications provider’s stock worth $65,484,000 after buying an additional 1,240,107 shares during the last quarter. Cullen Capital Management LLC boosted its stake in SK Telecom Co.,Ltd by 972.6% during the 1st quarter. Cullen Capital Management LLC now owns 433,645 shares of the Wireless communications provider’s stock worth $11,808,000 after purchasing an additional 393,215 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in SK Telecom Co.,Ltd during the 1st quarter worth $8,833,000. Canada Pension Plan Investment Board acquired a new position in SK Telecom Co.,Ltd in the first quarter valued at $5,773,000. Finally, Todd Asset Management LLC purchased a new stake in shares of SK Telecom Co.,Ltd in the second quarter valued at about $3,455,000. 7.51% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research cut shares of SK Telecom Co.,Ltd from a “buy” rating to a “hold” rating in a research note on Thursday, August 12th.
SK Telecom Co.,Ltd (NYSE:SKM) last posted its quarterly earnings results on Wednesday, August 11th. The Wireless communications provider reported $1.06 earnings per share (EPS) for the quarter. The company had revenue of $4.30 billion during the quarter. SK Telecom Co.,Ltd had a net margin of 11.16% and a return on equity of 8.79%. On average, equities analysts forecast that SK Telecom Co.,Ltd will post 2.89 EPS for the current year.
About SK Telecom Co.,Ltd
SK Telecom Co, Ltd. engages in the provision of wireless telecommunication and internet services. Its products include mobile phones, wireless data, information communication, and others. The company was founded on March 29, 1984 and is headquartered in Seoul, South Korea.
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