Comerica Bank Raises Position in SK Telecom Co Ltd (SKM)
Comerica Bank boosted its position in shares of SK Telecom Co Ltd (NYSE:SKM) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,282 shares of the Wireless communications provider’s stock after acquiring an additional 1,259 shares during the period. Comerica Bank’s holdings in SK Telecom were worth $860,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of SKM. Financial Gravity Companies Inc. bought a new stake in shares of SK Telecom in the 4th quarter valued at approximately $107,000. Parallel Advisors LLC grew its stake in shares of SK Telecom by 27.6% in the 4th quarter. Parallel Advisors LLC now owns 4,310 shares of the Wireless communications provider’s stock valued at $115,000 after purchasing an additional 931 shares during the period. Csenge Advisory Group bought a new stake in shares of SK Telecom in the 3rd quarter valued at approximately $116,000. We Are One Seven LLC bought a new stake in shares of SK Telecom in the 4th quarter valued at approximately $178,000. Finally, Stevens Capital Management LP bought a new stake in shares of SK Telecom in the 3rd quarter valued at approximately $209,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.
SKM has been the topic of several analyst reports. Nomura upgraded SK Telecom from a “neutral” rating to a “buy” rating in a research note on Friday, December 7th. Zacks Investment Research lowered SK Telecom from a “hold” rating to a “sell” rating in a research note on Tuesday, January 1st.
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About SK Telecom
SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates in four segments: Cellular Services, Fixed-Line Telecommunication Services, E-Commerce Services, and Other Businesses. The Cellular Services segment offers wireless voice transmission and data transmission services; cellular global roaming services; interconnection services to connect its networks to fixed-line and other wireless networks; Internet of Things solutions; and platform services, as well as sells wireless devices, including smartphones and basic phones, tablets and other Internet access devices, and wearable devices.
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