Short Interest in Turkcell Iletisim Hizmetleri AS (NYSE:TKC) Decreases By 59.1%

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) saw a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 1,531,839 shares, a decrease of 59.1% from the June 30th total of 3,745,650 shares. Based on an average trading volume of 1,984,200 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.2% of the company’s stock are sold short.

Institutional Trading of Turkcell Iletisim Hizmetleri AS

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in shares of Turkcell Iletisim Hizmetleri AS by 2,157.4% during the third quarter. JPMorgan Chase & Co. now owns 176,731 shares of the Wireless communications provider’s stock valued at $1,064,000 after acquiring an additional 168,902 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in Turkcell Iletisim Hizmetleri AS during the 4th quarter worth approximately $533,000. UBS Group AG increased its stake in Turkcell Iletisim Hizmetleri AS by 230.5% during the 4th quarter. UBS Group AG now owns 745,889 shares of the Wireless communications provider’s stock valued at $4,080,000 after purchasing an additional 520,178 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Turkcell Iletisim Hizmetleri AS during the 1st quarter valued at approximately $3,413,000. Finally, Quantinno Capital Management LP raised its holdings in shares of Turkcell Iletisim Hizmetleri AS by 1,053.2% in the first quarter. Quantinno Capital Management LP now owns 567,357 shares of the Wireless communications provider’s stock worth $3,421,000 after buying an additional 518,158 shares during the last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Turkcell Iletisim Hizmetleri AS in a research report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Turkcell Iletisim Hizmetleri AS Stock Up 0.1%

NYSE TKC traded up $0.01 during midday trading on Tuesday, hitting $5.50. 5,655,687 shares of the company traded hands, compared to its average volume of 1,492,247. Turkcell Iletisim Hizmetleri AS has a 52 week low of $5.35 and a 52 week high of $7.18. The company’s 50-day simple moving average is $5.86 and its 200-day simple moving average is $6.19. The company has a market cap of $4.84 billion, a PE ratio of 11.47 and a beta of 0.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.69 and a quick ratio of 1.68.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) last released its quarterly earnings results on Tuesday, March 31st. The Wireless communications provider reported $0.12 EPS for the quarter. The firm had revenue of $1.54 billion during the quarter. Turkcell Iletisim Hizmetleri AS had a return on equity of 6.79% and a net margin of 7.27%. As a group, equities research analysts forecast that Turkcell Iletisim Hizmetleri AS will post 0.93 earnings per share for the current year.

Turkcell Iletisim Hizmetleri AS Company Profile

Turkcell Iletisim Hizmetleri AS, traded on the NYSE under the symbol TKC, is a leading integrated telecommunications and technology company headquartered in Istanbul, Turkey. Since its founding in 1994 as the country’s first GSM operator, Turkcell has expanded its footprint to offer a comprehensive suite of mobile voice, messaging and data services to millions of subscribers. The company has made significant investments in nationwide 4.5G and 5G network infrastructure to deliver high-speed connectivity across both urban centers and rural regions.

In addition to its core mobile offerings, Turkcell provides fixed broadband and fiber-optic services tailored to consumer and enterprise customers.