Tidal Investments LLC acquired a new position in SK Telecom Co., Ltd. (NYSE:SKM – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,332,979 shares of the Wireless communications provider’s stock, valued at approximately $42,869,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Groupama Asset Managment lifted its stake in shares of SK Telecom by 1.7% during the 4th quarter. Groupama Asset Managment now owns 25,371 shares of the Wireless communications provider’s stock valued at $521,000 after buying an additional 418 shares in the last quarter. Allworth Financial LP increased its stake in SK Telecom by 11.3% in the 2nd quarter. Allworth Financial LP now owns 4,990 shares of the Wireless communications provider’s stock worth $160,000 after buying an additional 507 shares in the last quarter. Vise Technologies Inc. increased its stake in SK Telecom by 1.9% in the 3rd quarter. Vise Technologies Inc. now owns 27,553 shares of the Wireless communications provider’s stock worth $595,000 after buying an additional 525 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in SK Telecom by 10.8% during the second quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock valued at $134,000 after acquiring an additional 560 shares during the period. Finally, Matthews International Capital Management LLC raised its holdings in SK Telecom by 33.5% during the first quarter. Matthews International Capital Management LLC now owns 3,326 shares of the Wireless communications provider’s stock valued at $97,000 after acquiring an additional 835 shares during the period.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on SKM. Wall Street Zen raised SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Zacks Research downgraded SK Telecom from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, August 27th. JPMorgan Chase & Co. raised SK Telecom from a “neutral” rating to an “overweight” rating in a report on Thursday, July 16th. Finally, Weiss Ratings upgraded SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce”.
SK Telecom Stock Performance
Shares of NYSE SKM opened at $37.36 on Thursday. The company has a market cap of $14.34 billion, a P/E ratio of 29.89 and a beta of 0.67. SK Telecom Co., Ltd. has a 52-week low of $19.66 and a 52-week high of $47.18. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 1.18. The firm’s fifty day moving average is $35.12 and its two-hundred day moving average is $34.82.
SK Telecom (NYSE:SKM – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The Wireless communications provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.59 by $0.22. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.96 billion. SK Telecom had a net margin of 4.23% and a return on equity of 5.59%. As a group, analysts anticipate that SK Telecom Co., Ltd. will post 2.21 EPS for the current fiscal year.
SK Telecom Profile
SK Telecom Co, Ltd. is a South Korean telecommunications company that provides mobile communications, broadband internet, and media services. Its offerings include wireless voice and data plans, 5G connectivity, fixed-line broadband, internet protocol television, and related digital services for consumers and businesses.
The company also develops enterprise technology solutions in areas such as artificial intelligence, cloud computing, data centers, cybersecurity, and connected devices.
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