Engineers Gate Manager LP Boosts Stock Holdings in PT Telekomunikasi Indonesia, Tbk $TLK

Key Points

• Engineers Gate Manager LP increased its TLK holdings by 288.1% in the second quarter, adding 87,803 shares to own 118,281 shares valued at approximately $1.59 million.
• Other institutional investors also boosted their positions, including Lazard Asset Management, which held 25.1 million shares worth about $469.4 million, while several firms initiated new stakes.
• TLK opened at $14.66, down 2.5%, and remains below its 200-day moving average. Analyst sentiment is bearish, with MarketBeat reporting an average rating of “Sell” and Zacks Research downgrading the stock to “strong sell.”

Engineers Gate Manager LP increased its holdings in PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Free Report) by 288.1% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 118,281 shares of the utilities provider's stock after buying an additional 87,803 shares during the quarter. Engineers Gate Manager LP's holdings in PT Telekomunikasi Indonesia, Tbk were worth $1,589,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC increased its holdings in PT Telekomunikasi Indonesia, Tbk by 23.4% in the 1st quarter. Lazard Asset Management LLC now owns 25,129,891 shares of the utilities provider's stock worth $469,426,000 after acquiring an additional 4,770,126 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in PT Telekomunikasi Indonesia, Tbk during the second quarter valued at $4,784,000. Barometer Capital Management Inc. bought a new position in PT Telekomunikasi Indonesia, Tbk during the first quarter valued at $6,385,000. Sei Investments Co. lifted its position in PT Telekomunikasi Indonesia, Tbk by 1,021.8% during the first quarter. Sei Investments Co. now owns 289,999 shares of the utilities provider's stock valued at $5,417,000 after purchasing an additional 264,148 shares during the last quarter. Finally, Himension Capital Singapore PTE. LTD. grew its stake in shares of PT Telekomunikasi Indonesia, Tbk by 262.3% in the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 119,283 shares of the utilities provider's stock worth $2,228,000 after buying an additional 86,363 shares in the last quarter.

PT Telekomunikasi Indonesia, Tbk Stock Down 2.5%

PT Telekomunikasi Indonesia, Tbk stock opened at $14.66 on Thursday. PT Telekomunikasi Indonesia, Tbk has a 1-year low of $13.23 and a 1-year high of $23.51. The business has a fifty day moving average price of $14.71 and a 200-day moving average price of $16.21. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.79 and a quick ratio of 0.78. The stock has a market capitalization of $14.52 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.99 and a beta of 0.35.

Analyst Ratings Changes

Several research firms have recently issued reports on TLK. Wall Street Zen upgraded shares of PT Telekomunikasi Indonesia, Tbk from a "hold" rating to a "buy" rating in a report on Saturday, September 5th. Weiss Ratings downgraded shares of PT Telekomunikasi Indonesia, Tbk from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, July 31st. Finally, Zacks Research lowered shares of PT Telekomunikasi Indonesia, Tbk from a "hold" rating to a "strong sell" rating in a research report on Wednesday, September 9th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of "Sell".

About PT Telekomunikasi Indonesia, Tbk

PT Telekomunikasi Indonesia, Tbk, commonly known as Telkom Indonesia, is an Indonesian telecommunications and information technology company. Through its subsidiaries and business units, the company provides fixed-line and mobile communications, broadband internet, network connectivity, and digital services to consumers, businesses, and government customers.

Telkom's consumer offerings include mobile voice and data services, fixed broadband, pay television, and related digital products.

Want to see what other hedge funds are holding TLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.