GSA Capital Partners LLP Purchases Shares of 121,657 Nokia Corporation (NYSE:NOK)

Key Points

• GSA Capital Partners LLP purchased 121,657 shares of Nokia Corporation, valued at approximately $641,000, during the first quarter.
• Institutional ownership in Nokia has increased, with FMR LLC boosting its stake by 62.3% to own nearly 49.5 million shares.
• Nokia recently reported earnings, missing EPS estimates at $0.05, although its revenue of $5.34 billion exceeded forecasts, indicating a 1.8% year-over-year revenue growth.

GSA Capital Partners LLP acquired a new position in Nokia Corporation (NYSE:NOK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 121,657 shares of the technology company's stock, valued at approximately $641,000.

Other large investors have also modified their holdings of the company. FMR LLC lifted its position in Nokia by 62.3% during the 4th quarter. FMR LLC now owns 49,501,674 shares of the technology company's stock worth $219,292,000 after acquiring an additional 19,004,399 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Nokia in the fourth quarter worth about $53,481,000. Freestone Grove Partners LP acquired a new position in shares of Nokia during the 4th quarter worth about $33,348,000. Woodline Partners LP boosted its stake in Nokia by 125.4% during the 4th quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company's stock valued at $53,162,000 after purchasing an additional 6,677,017 shares during the period. Finally, Slate Path Capital LP grew its holdings in Nokia by 15.6% in the 4th quarter. Slate Path Capital LP now owns 30,438,987 shares of the technology company's stock valued at $134,845,000 after buying an additional 4,113,884 shares during the last quarter. 5.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NOK. Wall Street Zen raised Nokia from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. reduced their price target on shares of Nokia from $6.50 to $6.00 and set an "overweight" rating for the company in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $5.78.

Nokia Stock Performance

NOK opened at $4.05 on Friday. The stock's 50 day simple moving average is $5.01 and its 200-day simple moving average is $5.00. The company has a current ratio of 1.46, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The stock has a market cap of $21.79 billion, a PE ratio of 20.25 and a beta of 0.88. Nokia Corporation has a 1 year low of $3.70 and a 1 year high of $5.48.

Nokia (NYSE:NOK - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The technology company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The business had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $4.82 billion. Nokia had a net margin of 5.30% and a return on equity of 8.36%. The company's quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm earned $0.06 EPS. Sell-side analysts forecast that Nokia Corporation will post 0.34 EPS for the current year.

Nokia Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, August 12th. Shareholders of record on Wednesday, July 30th will be issued a dividend of $0.0317 per share. This represents a yield of 293.0%. The ex-dividend date of this dividend is Tuesday, July 29th. Nokia's payout ratio is presently 65.00%.

About Nokia

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.

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