SK Telecom Co. (NYSE:SKM)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $22.25, but opened at $22.31. SK Telecom shares last traded at $22.54, with a volume of 121,186 shares traded.

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

The company has a market capitalization of $14.34 billion and a PE ratio of 10.47. The company has a 50-day moving average of $21.49 and a 200 day moving average of $20.32.

Several institutional investors have bought and sold shares of SKM. Advisors Asset Management Inc. raised its position in 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. Wells Fargo & Company MN raised its position in 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 raised its position in 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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