Vident Advisory LLC Invests $230,000 in PT Telekomunikasi Indonesia, Tbk $TLK

Key Points

• Vident Advisory LLC acquired 15,581 shares of PT Telekomunikasi Indonesia, Tbk, amounting to $230,000, as reported in its latest SEC filing.
• Other institutional investors, including Farther Finance Advisors and Assetmark Inc., significantly increased their stakes in PT Telekomunikasi Indonesia during the first quarter, with some growing by over 1,000%.
• PT Telekomunikasi Indonesia's stock has recently been downgraded from a "strong-buy" to a "hold" rating, indicating a shift in market sentiment around the stock.

Vident Advisory LLC acquired a new stake in PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,581 shares of the utilities provider's stock, valued at approximately $230,000.

A number of other hedge funds also recently bought and sold shares of the business. Invesco Ltd. acquired a new stake in PT Telekomunikasi Indonesia, Tbk in the 1st quarter valued at about $33,124,000. Citadel Advisors LLC acquired a new stake in PT Telekomunikasi Indonesia, Tbk in the 4th quarter valued at about $16,533,000. Envestnet Asset Management Inc. raised its holdings in PT Telekomunikasi Indonesia, Tbk by 19.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 884,939 shares of the utilities provider's stock valued at $13,071,000 after acquiring an additional 143,928 shares during the last quarter. Northern Trust Corp raised its holdings in PT Telekomunikasi Indonesia, Tbk by 106.2% in the 1st quarter. Northern Trust Corp now owns 855,287 shares of the utilities provider's stock valued at $12,633,000 after acquiring an additional 440,426 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in PT Telekomunikasi Indonesia, Tbk by 10.4% in the 1st quarter. American Century Companies Inc. now owns 642,686 shares of the utilities provider's stock valued at $9,492,000 after acquiring an additional 60,697 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, New Street Research downgraded shares of PT Telekomunikasi Indonesia, Tbk from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th. One equities research 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 Trading Up 3.9%

Shares of NYSE TLK traded up $0.75 during midday trading on Monday, reaching $19.98. 714,848 shares of the stock were exchanged, compared to its average volume of 556,286. The company has a 50 day simple moving average of $18.45 and a 200 day simple moving average of $16.69. The stock has a market capitalization of $19.79 billion, a P/E ratio of 13.97, a PEG ratio of 4.23 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. PT Telekomunikasi Indonesia, Tbk has a twelve month low of $13.15 and a twelve month high of $21.00.

PT Telekomunikasi Indonesia, Tbk Company Profile

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.