PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Sets New 12-Month Low - Here's What Happened

Key Points

• PT Telekomunikasi Indonesia shares hit a new 52-week low, trading as low as $10.89 and last changing hands at $10.737, down sharply from the prior close of $12.78.
• Analyst sentiment remains cautious: despite upgrades from Zacks Research and Wall Street Zen, the stock has a consensus “Reduce” rating based on one Hold and one Sell recommendation.
• Several institutional investors increased their positions, including Lazard Asset Management, which raised its stake by 23.4%, and Sei Investments, which increased its holdings by more than 1,000%.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Get Free Report) reached a new 52-week low on Friday. The stock traded as low as $10.89 and last traded at $10.7370, with a volume of 527,122 shares. The stock had previously closed at $12.78.

Analyst Ratings Changes

Several brokerages have recently issued reports on TLK. Zacks Research upgraded PT Telekomunikasi Indonesia, Tbk from a "strong sell" rating to a "hold" rating in a research note on Thursday, October 8th. Weiss Ratings cut shares of PT Telekomunikasi Indonesia, Tbk from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, July 31st. Finally, Wall Street Zen raised shares of PT Telekomunikasi Indonesia, Tbk from a "hold" rating to a "buy" rating in a report on Saturday, September 5th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce".

PT Telekomunikasi Indonesia, Tbk Stock Performance

The firm has a market capitalization of $10.64 billion, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 0.84 and a beta of 0.40. The company has a 50-day moving average of $14.12 and a 200-day moving average of $15.35. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20.

Institutional Investors Weigh In On PT Telekomunikasi Indonesia, Tbk

Large investors have recently modified their holdings of the company. Raiffeisen Bank International AG bought a new stake in shares of PT Telekomunikasi Indonesia, Tbk in the 2nd quarter valued at $4,784,000. Engineers Gate Manager LP grew its holdings in PT Telekomunikasi Indonesia, Tbk by 288.1% in the second quarter. Engineers Gate Manager LP now owns 118,281 shares of the utilities provider's stock worth $1,589,000 after purchasing an additional 87,803 shares during the period. Himension Capital Singapore PTE. LTD. increased its stake in PT Telekomunikasi Indonesia, Tbk by 262.3% in the first quarter. Himension Capital Singapore PTE. LTD. now owns 119,283 shares of the utilities provider's stock valued at $2,228,000 after purchasing an additional 86,363 shares in the last quarter. Lazard Asset Management LLC increased its stake in PT Telekomunikasi Indonesia, Tbk by 23.4% in the first quarter. Lazard Asset Management LLC now owns 25,129,891 shares of the utilities provider's stock valued at $469,426,000 after purchasing an additional 4,770,126 shares in the last quarter. Finally, Sei Investments Co. increased its stake in PT Telekomunikasi Indonesia, Tbk by 1,021.8% in the first quarter. Sei Investments Co. now owns 289,999 shares of the utilities provider's stock valued at $5,417,000 after purchasing an additional 264,148 shares in the last quarter.

About PT Telekomunikasi Indonesia, Tbk

PT Telekomunikasi Indonesia, Tbk, commonly known as Telkom Indonesia, is Indonesia's state-controlled telecommunications and digital services company. Through its subsidiaries and business units, the company provides fixed-line and mobile communications, broadband internet, network connectivity, information technology services, cloud solutions, and digital services to consumers, businesses, government institutions, and wholesale customers.

Telkom's consumer operations include broadband services under the IndiHome brand and mobile communications through Telkomsel, its major telecommunications subsidiary.

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