SK Telecom Co. (NYSE:SKM) was up 2.8% during trading on Thursday . The company traded as high as $22.01 and last traded at $22.00, with a volume of 269,860 shares traded. The stock had previously closed at $21.40.

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

The stock has a 50-day moving average of $20.73 and a 200-day moving average of $19.99. The stock has a market cap of $14.07 billion and a PE ratio of 9.90.

Other large investors recently modified their holdings of the company. Silchester International Investors LLP increased its stake in shares of SK Telecom by 3.5% in the fourth quarter. Silchester International Investors LLP now owns 13,071,976 shares of the company’s stock valued at $263,400,000 after buying an additional 447,600 shares during the period. Morgan Stanley increased its stake 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 during the period. Baillie Gifford & Co. increased its stake 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 during the period. Wells Fargo & Company MN increased its stake in shares of SK Telecom by 26.4% in the fourth quarter. Wells Fargo & Company MN now owns 412,499 shares of the company’s stock valued at $8,311,000 after buying an additional 86,109 shares during the period. Finally, Sei Investments Co. increased its stake 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 during the period.

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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