SK Telecom Co., Ltd. $SKM Shares Newly Acquired by Diversify Advisory Services LLC

Diversify Advisory Services LLC purchased a new stake in shares of SK Telecom Co., Ltd. (NYSE:SKM) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 66,446 shares of the Wireless communications provider’s stock, valued at approximately $2,181,000.

Several other hedge funds also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. grew its stake in shares of SK Telecom by 32.8% during the third quarter. TD Waterhouse Canada Inc. now owns 44,909 shares of the Wireless communications provider’s stock valued at $1,598,000 after buying an additional 11,088 shares during the last quarter. Mather Group LLC. bought a new stake in shares of SK Telecom during the 3rd quarter worth approximately $42,000. GAMMA Investing LLC lifted its stake in shares of SK Telecom by 4.2% during the 3rd quarter. GAMMA Investing LLC now owns 7,503 shares of the Wireless communications provider’s stock worth $262,000 after acquiring an additional 301 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of SK Telecom by 2.7% during the 2nd quarter. QRG Capital Management Inc. now owns 19,069 shares of the Wireless communications provider’s stock worth $613,000 after acquiring an additional 504 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in SK Telecom during the 2nd quarter valued at $42,869,000.

Wall Street Analyst Weigh In

Several brokerages have commented on SKM. JPMorgan Chase & Co. raised SK Telecom from a “neutral” rating to an “overweight” rating in a research report on Thursday, July 16th. Wall Street Zen upgraded SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Weiss Ratings raised shares of SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Finally, Zacks Research raised shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

SK Telecom Stock Down 0.7%

Shares of NYSE:SKM opened at $30.60 on Friday. SK Telecom Co., Ltd. has a 52-week low of $19.66 and a 52-week high of $47.18. The stock has a market cap of $11.74 billion, a P/E ratio of 24.66 and a beta of 0.72. The business’s 50 day moving average is $36.23 and its 200 day moving average is $35.92. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

SK Telecom (NYSE:SKM) last posted its quarterly earnings results on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.22. SK Telecom had a return on equity of 5.30% and a net margin of 4.23%. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.96 billion. Sell-side analysts predict that SK Telecom Co., Ltd. will post 2.21 EPS for the current year.

About SK Telecom

SK Telecom Co, Ltd. is a South Korean telecommunications company that provides mobile communications and information technology services. The company offers wireless voice and data services, mobile connectivity, internet access, and related digital products to consumers and businesses.

Through its broadband and media operations, SK Telecom provides fixed-line internet, internet protocol television, and video and entertainment services. It also serves corporate and institutional customers with enterprise telecommunications, cloud, data center, cybersecurity, and other technology solutions.

SK Telecom is headquartered in South Korea and primarily serves the South Korean market, while also pursuing international opportunities through technology partnerships and investments.