Acadian Asset Management LLC Buys 212,299 Shares of PT Telekomunikasi Indonesia, Tbk $TLK

Key Points

• Acadian Asset Management LLC significantly boosted its stake in PT Telekomunikasi Indonesia, Tbk, increasing its holdings by 6,985.8% during the first quarter, now owning 215,338 shares worth approximately $3.18 million.
• Other institutional investors, including Goldman Sachs and Millennium Management, also enhanced their stakes in the company by substantial margins, reflecting increased investor confidence.
• Recently, shares of PT Telekomunikasi Indonesia are trading around $19.98, with a 52-week low of $13.15 and a high of $21.00, while the stock currently holds an average rating of "Hold" from analysts.

Acadian Asset Management LLC increased its position in shares of PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Free Report) by 6,985.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 215,338 shares of the utilities provider's stock after buying an additional 212,299 shares during the quarter. Acadian Asset Management LLC's holdings in PT Telekomunikasi Indonesia, Tbk were worth $3,178,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. purchased a new stake in shares of PT Telekomunikasi Indonesia, Tbk in the first quarter worth approximately $33,124,000. Envestnet Asset Management Inc. raised its stake in shares of PT Telekomunikasi Indonesia, Tbk by 19.4% in the first quarter. Envestnet Asset Management Inc. now owns 884,939 shares of the utilities provider's stock worth $13,071,000 after purchasing an additional 143,928 shares during the last quarter. Northern Trust Corp raised its stake in shares of PT Telekomunikasi Indonesia, Tbk by 106.2% in the first quarter. Northern Trust Corp now owns 855,287 shares of the utilities provider's stock worth $12,633,000 after purchasing an additional 440,426 shares during the last quarter. American Century Companies Inc. raised its stake in shares of PT Telekomunikasi Indonesia, Tbk by 10.4% in the first quarter. American Century Companies Inc. now owns 642,686 shares of the utilities provider's stock worth $9,492,000 after purchasing an additional 60,697 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of PT Telekomunikasi Indonesia, Tbk by 606.8% in the first quarter. Millennium Management LLC now owns 468,651 shares of the utilities provider's stock worth $6,922,000 after purchasing an additional 402,344 shares during the last quarter.

Analyst Ratings Changes

Separately, New Street Research downgraded PT Telekomunikasi Indonesia, Tbk from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold".

PT Telekomunikasi Indonesia, Tbk Stock Performance

NYSE TLK traded down $0.10 on Friday, hitting $19.53. 726,206 shares of the stock traded hands, compared to its average volume of 483,681. The business's fifty day moving average is $18.71 and its two-hundred day moving average is $16.80. PT Telekomunikasi Indonesia, Tbk has a 12 month low of $13.15 and a 12 month high of $21.00. The firm has a market capitalization of $19.35 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 4.32 and a beta of 0.66. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.70 and a current ratio of 0.71.

About PT Telekomunikasi Indonesia, Tbk

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk provides information and communications technology, and telecommunications network services worldwide. The company operates through mobile, consumer, enterprise, Wholesale and International Business, and Other segments. The Mobile segment offers mobile voice, SMS, value added services, and mobile broadband services.