Diversify Advisory Services LLC Makes New $2.18 Million Investment in SK Telecom Co., Ltd. $SKM

Key Points

• Diversify Advisory Services initiated a $2.18 million position in SK Telecom during the third quarter by purchasing 66,446 shares. Several other institutional investors also increased or initiated holdings.
• SK Telecom shares opened at $30.60, down 0.7%, with the stock trading well below its 50-day and 200-day moving averages. The company has a $11.74 billion market capitalization and a 12-month trading range of $19.66 to $47.18.
• The company beat quarterly EPS expectations, reporting $0.81 versus the $0.59 consensus, though revenue of $2.81 billion fell short of estimates. Analyst sentiment remains cautious, with a consensus “Reduce” rating despite some recent upgrades.

Diversify Advisory Services LLC purchased a new stake in shares of SK Telecom Co., Ltd. (NYSE:SKM - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 66,446 shares of the Wireless communications provider's stock, valued at approximately $2,181,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SKM. TD Waterhouse Canada Inc. raised its position in SK Telecom by 32.8% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 44,909 shares of the Wireless communications provider's stock worth $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 in the third quarter worth approximately $42,000. GAMMA Investing LLC raised its holdings in shares of SK Telecom by 4.2% during the third quarter. GAMMA Investing LLC now owns 7,503 shares of the Wireless communications provider's stock valued at $262,000 after purchasing an additional 301 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of SK Telecom by 2.7% during the second quarter. QRG Capital Management Inc. now owns 19,069 shares of the Wireless communications provider's stock valued at $613,000 after purchasing an additional 504 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in shares of SK Telecom during the second quarter valued at approximately $42,869,000.

SK Telecom Trading Down 0.7%

SKM opened at $30.60 on Friday. The firm has a market cap of $11.74 billion, a P/E ratio of 24.66 and a beta of 0.72. SK Telecom Co., Ltd. has a 12 month low of $19.66 and a 12 month high of $47.18. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average of $36.23 and a 200 day moving average of $35.92.

SK Telecom (NYSE:SKM - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.22. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.96 billion. SK Telecom had a return on equity of 5.30% and a net margin of 4.23%. As a group, research analysts forecast that SK Telecom Co., Ltd. will post 2.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SKM shares. Weiss Ratings upgraded SK Telecom from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 13th. Wall Street Zen raised shares of SK Telecom from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. JPMorgan Chase & Co. upgraded shares of SK Telecom from a "neutral" rating to an "overweight" rating in a research report on Thursday, July 16th. Finally, Zacks Research raised shares of SK Telecom from a "strong sell" rating to a "hold" rating in a report on Monday, October 12th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce".

SK Telecom Profile

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.

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