Karp Capital Management Corp Takes Position in Mobile TeleSystems OJSC (MBT)
Karp Capital Management Corp purchased a new stake in Mobile TeleSystems OJSC (NYSE:MBT) during the first quarter, Holdings Channel reports. The firm purchased 64,456 shares of the Wireless communications provider’s stock, valued at approximately $711,000.
Other hedge funds have also recently bought and sold shares of the company. UBS Asset Management Americas Inc. raised its stake in Mobile TeleSystems OJSC by 105.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 5,285,608 shares of the Wireless communications provider’s stock valued at $48,152,000 after buying an additional 2,707,575 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Mobile TeleSystems OJSC during the fourth quarter valued at about $896,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Mobile TeleSystems OJSC during the fourth quarter valued at about $7,857,000. Franklin Resources Inc. raised its stake in Mobile TeleSystems OJSC by 394.1% in the fourth quarter. Franklin Resources Inc. now owns 301,811 shares of the Wireless communications provider’s stock valued at $2,749,000 after buying an additional 240,726 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Mobile TeleSystems OJSC by 39.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,133 shares of the Wireless communications provider’s stock valued at $146,000 after buying an additional 4,585 shares in the last quarter. Institutional investors and hedge funds own 34.78% of the company’s stock.
Shares of Mobile TeleSystems OJSC (NYSE:MBT) opened at 8.83 on Friday. Mobile TeleSystems OJSC has a 12 month low of $7.09 and a 12 month high of $11.59. The firm has a 50-day moving average of $9.40 and a 200-day moving average of $9.92. The firm has a market cap of $8.74 billion, a price-to-earnings ratio of 5.86 and a beta of 0.93.
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Several analysts recently issued reports on the stock. Standpoint Research lowered shares of Mobile TeleSystems OJSC from a “buy” rating to a “hold” rating in a research report on Friday, April 7th. Zacks Investment Research upgraded shares of Mobile TeleSystems OJSC from a “hold” rating to a “strong-buy” rating and set a $12.00 price target on the stock in a research report on Wednesday, April 19th. Finally, Morgan Stanley lowered shares of Mobile TeleSystems OJSC from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $12.60 to $9.90 in a research report on Thursday, May 4th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $10.63.
About Mobile TeleSystems OJSC
Mobile TeleSystems Public Joint Stock Company, formerly Mobile TeleSystems Open Joint Stock Company, is a provider of telecommunications services. The Company provides mobile and fixed line voice and data telecommunications services, including data transfer, broadband, pay-television (pay-TV) and various value-added services, as well as selling equipment and accessories.
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