Tidal Investments LLC Acquires New Stake in SK Telecom Co., Ltd. $SKM

Key Points

• Tidal Investments acquired 1.33 million shares of SK Telecom in the second quarter, worth approximately $42.9 million and representing about 0.35% of the company.
• Analyst sentiment remains mixed: JPMorgan and Wall Street Zen upgraded the stock, while Zacks Research issued a downgrade. Overall, analysts maintain a consensus “Reduce” rating.
• SK Telecom reported quarterly EPS of $0.81, exceeding estimates of $0.59, though revenue of $2.81 billion fell short of the $2.96 billion consensus forecast.

Tidal Investments LLC purchased a new position in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,332,979 shares of the Wireless communications provider's stock, valued at approximately $42,869,000. Tidal Investments LLC owned about 0.35% of SK Telecom at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Calamos Advisors LLC bought a new position in shares of SK Telecom during the first quarter valued at $9,065,000. ABN Amro Investment Solutions boosted its holdings in shares of SK Telecom by 136.8% during the 1st quarter. ABN Amro Investment Solutions now owns 568,343 shares of the Wireless communications provider's stock valued at $16,647,000 after acquiring an additional 328,300 shares during the last quarter. Calamos Wealth Management LLC bought a new stake in shares of SK Telecom in the first quarter worth approximately $3,511,000. Euro Pacific Asset Management LLC raised its holdings in shares of SK Telecom by 80.6% during the first quarter. Euro Pacific Asset Management LLC now owns 223,557 shares of the Wireless communications provider's stock valued at $6,513,000 after purchasing an additional 99,741 shares during the last quarter. Finally, Wealth High Governance Capital Ltda bought a new position in SK Telecom during the first quarter valued at approximately $7,740,000.

Analyst Upgrades and Downgrades

SKM has been the subject of a number of research analyst reports. Wall Street Zen raised shares of SK Telecom from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. JPMorgan Chase & Co. raised SK Telecom from a "neutral" rating to an "overweight" rating in a report on Thursday, July 16th. Zacks Research downgraded SK Telecom from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, August 27th. Finally, Weiss Ratings raised SK Telecom from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, August 13th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, SK Telecom has a consensus rating of "Reduce".

SK Telecom Trading Down 2.8%

NYSE:SKM opened at $37.36 on Thursday. SK Telecom Co., Ltd. has a one year low of $19.66 and a one year high of $47.18. The business has a fifty day moving average price of $35.12 and a 200-day moving average price of $34.82. The firm has a market capitalization of $14.34 billion, a price-to-earnings ratio of 29.89 and a beta of 0.67. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 1.15.

SK Telecom (NYSE:SKM - Get Free Report) last released its earnings results on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.22. The company 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 5.59% and a net margin of 4.23%. Sell-side analysts forecast that SK Telecom Co., Ltd. will post 2.21 EPS for the current 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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