Transmarket Holdings LP Buys 1,674,215 Shares of Nokia Corporation $NOK

Key Points

• Transmarket Holdings LP acquired 1,674,215 Nokia shares worth approximately $16.98 million, making Nokia its second-largest portfolio holding at 9.5%.
• Institutional interest increased, with several funds substantially expanding their Nokia positions; institutional investors and hedge funds collectively own 5.28% of the company.
• Nokia reported quarterly EPS of $0.10 versus the $0.08 consensus estimate and revenue of $5.84 billion, up 9.7% year over year. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $13.41.

Transmarket Holdings LP bought a new stake in shares of Nokia Corporation (NYSE:NOK - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,674,215 shares of the technology company's stock, valued at approximately $16,977,000. Nokia makes up 9.5% of Transmarket Holdings LP's portfolio, making the stock its 2nd largest position.

Other institutional investors also recently added to or reduced their stakes in the company. ARGA Investment Management LP increased its holdings in shares of Nokia by 166.4% during the first quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company's stock valued at $163,921,000 after purchasing an additional 12,734,021 shares during the period. Renaissance Technologies LLC lifted its holdings in Nokia by 131.3% in the first quarter. Renaissance Technologies LLC now owns 13,294,780 shares of the technology company's stock worth $106,890,000 after purchasing an additional 7,546,000 shares during the period. Annex Advisory Services LLC lifted its holdings in Nokia by 1,710.9% in the third quarter. Annex Advisory Services LLC now owns 4,468,371 shares of the technology company's stock worth $45,309,000 after purchasing an additional 4,221,629 shares during the period. Atwood & Palmer Inc. grew its position in Nokia by 0.5% in the 3rd quarter. Atwood & Palmer Inc. now owns 2,470,183 shares of the technology company's stock valued at $25,048,000 after buying an additional 12,888 shares in the last quarter. Finally, Engineers Gate Manager LP grew its position in Nokia by 19.2% in the 2nd quarter. Engineers Gate Manager LP now owns 1,864,080 shares of the technology company's stock valued at $24,755,000 after buying an additional 300,807 shares in the last quarter. Institutional investors and hedge funds own 5.28% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. B. Riley Financial started coverage on shares of Nokia in a research note on Thursday, September 17th. They set a "buy" rating and a $15.00 target price on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nokia in a research note on Friday, September 4th. Danske upgraded shares of Nokia from a "hold" rating to a "buy" rating in a report on Wednesday, July 1st. UBS Group reiterated a "neutral" rating on shares of Nokia in a report on Wednesday, July 1st. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Nokia in a research note on Tuesday, September 29th. Sixteen analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $13.41.

Nokia Trading Up 3.8%

Shares of Nokia stock opened at $9.22 on Thursday. The business has a fifty day simple moving average of $10.02 and a 200-day simple moving average of $10.21. Nokia Corporation has a fifty-two week low of $5.86 and a fifty-two week high of $17.45. The firm has a market cap of $52.97 billion, a price-to-earnings ratio of 57.66, a price-to-earnings-growth ratio of 0.92 and a beta of 1.19. The company has a quick ratio of 1.19, a current ratio of 1.47 and a debt-to-equity ratio of 0.09.

Nokia (NYSE:NOK - Get Free Report) last released its earnings results on Thursday, October 22nd. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.02. Nokia had a return on equity of 10.48% and a net margin of 3.80%. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period in the previous year, the company earned $0.06 earnings per share. Nokia's revenue was up 9.7% compared to the same quarter last year. On average, equities analysts forecast that Nokia Corporation will post 0.40 EPS for the current fiscal year.

About Nokia

Nokia Oyj is a Finland-based technology company that provides communications networking equipment, software and related services to telecommunications operators, enterprises, governments and other organizations worldwide. Its offerings support fixed and mobile broadband, optical and IP networks, data centers, cloud environments and private wireless communications.

The company's business activities include mobile network infrastructure, network automation and management software, fiber and broadband access, optical networking, routing, data-center networking, and cloud and network services.

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