SK Telecom Co. (NYSE:SKM) shares fell 1.6% during mid-day trading on Wednesday . The company traded as low as $21.33 and last traded at $21.37, with a volume of 280,073 shares changing hands. The stock had previously closed at $21.71.

Separately, HSBC downgraded SK Telecom from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th.

The firm has a market cap of $13.61 billion and a PE ratio of 9.69. The stock’s 50-day moving average price is $20.63 and its 200 day moving average price is $19.96.

Several institutional investors have made changes to their positions in SKM. Sei Investments Co. raised its position in shares of SK Telecom by 119.2% in the fourth quarter. Sei Investments Co. now owns 72,021 shares of the company’s stock valued at $1,451,000 after buying an additional 39,162 shares in the last quarter. TD Asset Management Inc. raised its position in shares of SK Telecom by 0.3% in the fourth quarter. TD Asset Management Inc. now owns 277,600 shares of the company’s stock valued at $5,594,000 after buying an additional 800 shares in the last quarter. Renaissance Group LLC raised its position in shares of SK Telecom by 0.9% in the fourth quarter. Renaissance Group LLC now owns 567,171 shares of the company’s stock valued at $11,428,000 after buying an additional 4,892 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of SK Telecom by 312.8% in the fourth quarter. Baillie Gifford & Co. now owns 156,374 shares of the company’s stock valued at $3,151,000 after buying an additional 118,494 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of SK Telecom by 117.8% in the fourth quarter. Morgan Stanley now owns 455,543 shares of the company’s stock valued at $9,180,000 after buying an additional 246,346 shares in the last quarter.

SK Telecom Co, Ltd. is a wireless telecommunications service provider. The Company offers the following core services: Cellular voice services; Wireless data services; Broadband Internet, Internet Protocol television (IPTV) and fixed-line telephone services, and New businesses. The Company provides wireless voice transmission and wireless global roaming services.

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