Arrowstreet Capital Limited Partnership Trims Stock Position in Turkcell Iletisim Hizmetleri AS $TKC

Key Points

• Arrowstreet Capital cut its Turkcell stake by 49.5% in the first quarter, selling 756,549 shares and retaining 773,278 shares worth approximately $4.66 million, or 0.09% of the company.
• Several other institutional investors increased their positions, including JPMorgan Chase, which more than doubled its stake, while SBI Securities, WealthCollab, and Arax Advisory Partners also bought shares.
• TKC opened at $5.51, near its 52-week low, after reporting quarterly revenue of $1.54 billion and EPS of $0.12. Analyst sentiment remains neutral, with a consensus “Hold” rating.

Arrowstreet Capital Limited Partnership decreased its stake in Turkcell Iletisim Hizmetleri AS (NYSE:TKC - Free Report) by 49.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 773,278 shares of the Wireless communications provider's stock after selling 756,549 shares during the period. Arrowstreet Capital Limited Partnership owned 0.09% of Turkcell Iletisim Hizmetleri AS worth $4,663,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TKC. SBI Securities Co. Ltd. increased its position in shares of Turkcell Iletisim Hizmetleri AS by 50.0% during the fourth quarter. SBI Securities Co. Ltd. now owns 5,097 shares of the Wireless communications provider's stock worth $28,000 after purchasing an additional 1,698 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Turkcell Iletisim Hizmetleri AS in the 4th quarter valued at about $28,000. WealthCollab LLC grew its stake in Turkcell Iletisim Hizmetleri AS by 59.7% during the 4th quarter. WealthCollab LLC now owns 6,002 shares of the Wireless communications provider's stock worth $33,000 after buying an additional 2,244 shares during the last quarter. Arax Advisory Partners grew its stake in Turkcell Iletisim Hizmetleri AS by 381.2% during the 4th quarter. Arax Advisory Partners now owns 7,493 shares of the Wireless communications provider's stock worth $41,000 after buying an additional 5,936 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Turkcell Iletisim Hizmetleri AS by 102.5% during the second quarter. JPMorgan Chase & Co. now owns 7,829 shares of the Wireless communications provider's stock worth $47,000 after buying an additional 3,963 shares during the period.

Turkcell Iletisim Hizmetleri AS Price Performance

Shares of TKC opened at $5.51 on Tuesday. Turkcell Iletisim Hizmetleri AS has a fifty-two week low of $5.29 and a fifty-two week high of $7.18. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 11.49 and a beta of 0.97. The firm has a 50-day simple moving average of $5.81 and a 200-day simple moving average of $6.18. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.68 and a current ratio of 1.69.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Turkcell Iletisim Hizmetleri AS in a report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold".

About Turkcell Iletisim Hizmetleri AS

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.

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