Cerity Partners LLC Grows Stock Position in SK Telecom Co., Ltd. (NYSE:SKM)

Cerity Partners LLC increased its holdings in SK Telecom Co., Ltd. (NYSE:SKM) by 50.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 20,601 shares of the Wireless communications provider’s stock after purchasing an additional 6,863 shares during the quarter. Cerity Partners LLC’s holdings in SK Telecom were worth $441,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SKM. Robeco Institutional Asset Management B.V. raised its stake in SK Telecom by 3.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,638,616 shares of the Wireless communications provider’s stock valued at $35,165,000 after purchasing an additional 53,557 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in SK Telecom by 1.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,122,698 shares of the Wireless communications provider’s stock valued at $24,026,000 after purchasing an additional 12,097 shares during the last quarter. Ramirez Asset Management Inc. acquired a new position in SK Telecom in the 3rd quarter valued at about $8,165,000. Envestnet Asset Management Inc. raised its stake in SK Telecom by 26.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 304,426 shares of the Wireless communications provider’s stock valued at $6,533,000 after purchasing an additional 63,913 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of SK Telecom by 2.6% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 179,525 shares of the Wireless communications provider’s stock valued at $3,853,000 after acquiring an additional 4,579 shares during the last quarter.

Wall Street Analyst Weigh In

SKM has been the topic of a number of recent analyst reports. Nomura reaffirmed a “reduce” rating on shares of SK Telecom in a research note on Monday, February 5th. StockNews.com raised SK Telecom from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 17th.

SK Telecom Stock Performance

SK Telecom stock opened at $20.50 on Friday. SK Telecom Co., Ltd. has a 52-week low of $18.52 and a 52-week high of $22.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.94 and a quick ratio of 0.92. The firm has a fifty day moving average of $21.47 and a 200-day moving average of $21.24.

About SK Telecom

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.