Seven Eight Capital LP grew its stake in Mobile TeleSystems OJSC (NYSE:MBT) by 56.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,068 shares of the Wireless communications provider’s stock after acquiring an additional 38,000 shares during the quarter. Seven Eight Capital LP’s holdings in Mobile TeleSystems OJSC were worth $880,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Greenleaf Trust bought a new stake in shares of Mobile TeleSystems OJSC in the 2nd quarter valued at about $115,000. Lapides Asset Management LLC increased its stake in shares of Mobile TeleSystems OJSC by 25.7% in the 2nd quarter. Lapides Asset Management LLC now owns 14,200 shares of the Wireless communications provider’s stock valued at $119,000 after acquiring an additional 2,900 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Mobile TeleSystems OJSC in the 1st quarter valued at about $130,000. M&T Bank Corp bought a new stake in shares of Mobile TeleSystems OJSC in the 1st quarter valued at about $134,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of Mobile TeleSystems OJSC in the 2nd quarter valued at about $150,000. 32.15% of the stock is owned by institutional investors.
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A number of analysts have recently commented on the company. Deutsche Bank AG assumed coverage on Mobile TeleSystems OJSC in a research note on Tuesday. They issued a “buy” rating and a $12.50 price target for the company. ValuEngine raised Mobile TeleSystems OJSC from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Zacks Investment Research cut Mobile TeleSystems OJSC from a “hold” rating to a “sell” rating in a research note on Tuesday, August 29th. BidaskClub raised Mobile TeleSystems OJSC from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Finally, J P Morgan Chase & Co raised Mobile TeleSystems OJSC from a “neutral” rating to an “overweight” rating and set a $10.50 target price for the company in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $10.66.
Shares of Mobile TeleSystems OJSC (NYSE:MBT) opened at 10.98 on Friday. Mobile TeleSystems OJSC has a 1-year low of $7.09 and a 1-year high of $11.59. The company has a market capitalization of $10.74 billion, a PE ratio of 6.39 and a beta of 0.91. The company’s 50-day moving average price is $9.38 and its 200-day moving average price is $9.56.
Mobile TeleSystems OJSC (NYSE:MBT) last released its quarterly earnings data on Monday, August 28th. The Wireless communications provider reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.04. The firm had revenue of $1.87 billion during the quarter. Mobile TeleSystems OJSC had a return on equity of 40.25% and a net margin of 12.42%. On average, equities analysts expect that Mobile TeleSystems OJSC will post $0.97 earnings per share for the current fiscal year.
About Mobile TeleSystems OJSC
Mobile TeleSystems Public Joint Stock Company, formerly Mobile TeleSystems Open Joint Stock Company, is a provider of telecommunications services. The Company provides mobile and fixed line voice and data telecommunications services, including data transfer, broadband, pay-television (pay-TV) and various value-added services, as well as selling equipment and accessories.
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