Turkcell Iletisim Hizmetleri AS (NYSE:TKC) Sees Significant Decline in Short Interest

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) was the recipient of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 1,848,680 shares, a drop of 38.9% from the July 30th total of 3,024,711 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 1,664,880 shares, the days-to-cover ratio is presently 1.1 days.

Analyst Upgrades and Downgrades

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

Institutional Trading of Turkcell Iletisim Hizmetleri AS

Several institutional investors have recently made changes to their positions in TKC. QRG Capital Management Inc. lifted its holdings in Turkcell Iletisim Hizmetleri AS by 7.4% during the 1st quarter. QRG Capital Management Inc. now owns 23,383 shares of the Wireless communications provider’s stock worth $141,000 after purchasing an additional 1,612 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Turkcell Iletisim Hizmetleri AS by 50.0% in the fourth quarter. SBI Securities Co. Ltd. now owns 5,097 shares of the Wireless communications provider’s stock valued at $28,000 after buying an additional 1,698 shares during the period. HB Wealth Management LLC raised its position in Turkcell Iletisim Hizmetleri AS by 16.7% during the 4th quarter. HB Wealth Management LLC now owns 12,773 shares of the Wireless communications provider’s stock worth $70,000 after purchasing an additional 1,831 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Turkcell Iletisim Hizmetleri AS by 1.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 115,095 shares of the Wireless communications provider’s stock worth $630,000 after purchasing an additional 1,906 shares during the period. Finally, Inspire Investing LLC boosted its position in shares of Turkcell Iletisim Hizmetleri AS by 16.8% during the 4th quarter. Inspire Investing LLC now owns 13,230 shares of the Wireless communications provider’s stock valued at $72,000 after purchasing an additional 1,906 shares in the last quarter.

Turkcell Iletisim Hizmetleri AS Stock Up 0.9%

Shares of TKC traded up $0.04 during midday trading on Wednesday, hitting $5.07. 902,962 shares of the company’s stock traded hands, compared to its average volume of 1,617,402. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 10.34 and a beta of 0.95. Turkcell Iletisim Hizmetleri AS has a 1 year low of $4.90 and a 1 year high of $7.18. The company has a current ratio of 1.49, a quick ratio of 1.48 and a debt-to-equity ratio of 0.57. The firm’s fifty day moving average is $5.61 and its 200-day moving average is $6.03.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) last announced its quarterly earnings results on Thursday, August 13th. The Wireless communications provider reported $0.13 earnings per share for the quarter. The firm had revenue of $1.58 billion during the quarter. Turkcell Iletisim Hizmetleri AS had a return on equity of 6.52% and a net margin of 7.13%. As a group, sell-side analysts anticipate that Turkcell Iletisim Hizmetleri AS will post 0.54 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.