Turkcell Iletisim Hizmetleri AS (NYSE:TKC) Short Interest Down 38.9% in August

Key Points

• Short interest fell 38.9% to 1.85 million shares as of August 14, down from 3.02 million shares at the end of July. Short interest now represents 0.2% of outstanding shares, with a days-to-cover ratio of 1.1.
• Turkcell reported quarterly earnings of $0.13 per share on $1.58 billion in revenue, while analysts expect approximately $0.54 in full-year EPS.
• The stock opened at $5.40, near its 52-week low of $5.29, with a $4.75 billion market capitalization; the sole analyst rating cited remains Hold.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC - Get Free Report) was the recipient of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 1,848,680 shares, a decrease of 38.9% from the July 30th total of 3,024,711 shares. Based on an average daily volume of 1,664,880 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.2% of the shares of the company are short sold.

Institutional Trading of Turkcell Iletisim Hizmetleri AS

A number of hedge funds and other institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. lifted its stake in shares of Turkcell Iletisim Hizmetleri AS by 50.0% during the 4th quarter. SBI Securities Co. Ltd. now owns 5,097 shares of the Wireless communications provider's stock valued at $28,000 after buying an additional 1,698 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Turkcell Iletisim Hizmetleri AS during the 4th quarter valued at approximately $28,000. Arax Advisory Partners lifted its holdings in Turkcell Iletisim Hizmetleri AS by 381.2% in the 4th quarter. Arax Advisory Partners now owns 7,493 shares of the Wireless communications provider's stock worth $41,000 after purchasing an additional 5,936 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in Turkcell Iletisim Hizmetleri AS by 87.5% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 7,500 shares of the Wireless communications provider's stock worth $44,000 after purchasing an additional 3,500 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in Turkcell Iletisim Hizmetleri AS during the 4th quarter valued at approximately $44,000.

Turkcell Iletisim Hizmetleri AS Stock Performance

NYSE:TKC opened at $5.40 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.48 and a current ratio of 1.49. The stock has a 50-day simple moving average of $5.65 and a two-hundred day simple moving average of $6.05. The firm has a market capitalization of $4.75 billion, a PE ratio of 11.02 and a beta of 0.97. Turkcell Iletisim Hizmetleri AS has a 52-week low of $5.29 and a 52-week high of $7.18.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The Wireless communications provider reported $0.13 earnings per share for the quarter. The firm had revenue of $1.58 billion for the quarter. Turkcell Iletisim Hizmetleri AS had a return on equity of 6.52% and a net margin of 7.13%. Analysts forecast that Turkcell Iletisim Hizmetleri AS will post 0.54 EPS for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Turkcell Iletisim Hizmetleri AS in a research report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold".

Turkcell Iletisim Hizmetleri AS Company Profile

Turkcell Iletisim Hizmetleri AS, traded on the NYSE under the symbol TKC, is a leading integrated telecommunications and technology company headquartered in Istanbul, Turkey. Since its founding in 1994 as the country's first GSM operator, Turkcell has expanded its footprint to offer a comprehensive suite of mobile voice, messaging and data services to millions of subscribers. The company has made significant investments in nationwide 4.5G and 5G network infrastructure to deliver high-speed connectivity across both urban centers and rural regions.

In addition to its core mobile offerings, Turkcell provides fixed broadband and fiber-optic services tailored to consumer and enterprise customers.

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