SK Telecom Co. (NYSE:SKM) gapped up before the market opened on Monday . The stock had previously closed at $21.99, but opened at $22.12. SK Telecom shares last traded at $22.31, with a volume of 275,706 shares trading hands.

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

The firm has a market capitalization of $14.20 billion and a PE ratio of 10.08. The firm’s 50-day moving average price is $20.78 and its 200 day moving average price is $20.02.

A number of hedge funds and institutional investors recently modified their holdings of SKM. Advisors Asset Management Inc. boosted its position in shares of SK Telecom by 11.2% in the fourth quarter. Advisors Asset Management Inc. now owns 66,669 shares of the company’s stock valued at $1,343,000 after buying an additional 6,688 shares during the period. Sei Investments Co. boosted 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 during the period. Baillie Gifford & Co. boosted 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 during the period. Wells Fargo & Company MN boosted its position 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, Morgan Stanley boosted 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 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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