Turkcell Iletisim Hizmetleri AS (NYSE:TKC) Short Interest Update

Key Points

• Short interest nearly doubled in July, rising 97.5% to 3.02 million shares as of July 31. Short interest represents 0.3% of shares outstanding, with a days-to-cover ratio of 0.9.
• TKC shares rose 1.0% to $5.47, near the company’s 12-month low of $5.29 and below its 50- and 200-day moving averages. The company reported quarterly EPS of $0.13 on $1.58 billion in revenue.
• Analyst sentiment remained neutral, with Weiss Ratings reiterating a “hold (C)” rating and MarketBeat reporting an average rating of “Hold.” Several institutional investors, including Millennium Management and Renaissance Technologies, increased their positions.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC - Get Free Report) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 3,024,711 shares, an increase of 97.5% from the July 15th total of 1,531,839 shares. Currently, 0.3% of the company's stock are short sold. Based on an average daily volume of 3,327,012 shares, the days-to-cover ratio is presently 0.9 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Turkcell Iletisim Hizmetleri AS in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold".

Turkcell Iletisim Hizmetleri AS Stock Up 1.0%

Shares of Turkcell Iletisim Hizmetleri AS stock traded up $0.06 during trading on Friday, hitting $5.47. 1,245,278 shares of the stock traded hands, compared to its average volume of 2,708,603. The stock has a market cap of $4.82 billion, a P/E ratio of 11.17 and a beta of 0.97. The company has a fifty day moving average price of $5.76 and a two-hundred day moving average price of $6.14. Turkcell Iletisim Hizmetleri AS has a twelve month low of $5.29 and a twelve month high of $7.18. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.68 and a current ratio of 1.69.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC - Get Free Report) last issued 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 net margin of 7.13% and a return on equity of 6.62%. Equities research analysts predict that Turkcell Iletisim Hizmetleri AS will post 0.93 EPS for the current fiscal year.

Institutional Trading of Turkcell Iletisim Hizmetleri AS

A number of institutional investors and hedge funds have recently made changes to their positions in TKC. Millennium Management LLC increased its holdings in shares of Turkcell Iletisim Hizmetleri AS by 326.4% during the 3rd quarter. Millennium Management LLC now owns 3,495,391 shares of the Wireless communications provider's stock valued at $21,042,000 after acquiring an additional 2,675,681 shares during the last quarter. Two Sigma Investments LP lifted its holdings in Turkcell Iletisim Hizmetleri AS by 103.5% in the 3rd quarter. Two Sigma Investments LP now owns 1,966,828 shares of the Wireless communications provider's stock worth $11,840,000 after purchasing an additional 1,000,311 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Turkcell Iletisim Hizmetleri AS by 182.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,280,600 shares of the Wireless communications provider's stock worth $7,005,000 after purchasing an additional 827,415 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Turkcell Iletisim Hizmetleri AS during the first quarter worth approximately $3,413,000. Finally, Voloridge Investment Management LLC bought a new stake in Turkcell Iletisim Hizmetleri AS during the fourth quarter worth approximately $2,888,000.

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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