Oaktree Capital Management LP Sells 7,551,921 Shares of Nokia Corporation $NOK

Oaktree Capital Management LP decreased its holdings in shares of Nokia Corporation (NYSE:NOK) by 40.3% in the 1st quarter, HoldingsChannel reports. The firm owned 11,200,308 shares of the technology company’s stock after selling 7,551,921 shares during the period. Nokia makes up approximately 1.1% of Oaktree Capital Management LP’s holdings, making the stock its 19th largest holding. Oaktree Capital Management LP’s holdings in Nokia were worth $90,050,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fifth Third Bancorp raised its position in shares of Nokia by 248.7% in the fourth quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock valued at $25,000 after purchasing an additional 2,721 shares during the period. FNY Investment Advisers LLC lifted its position in Nokia by 33,457.1% during the fourth quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock worth $30,000 after acquiring an additional 4,684 shares during the last quarter. Dorato Capital Management bought a new stake in shares of Nokia during the fourth quarter worth approximately $31,000. Smithfield Trust Co acquired a new position in shares of Nokia in the fourth quarter valued at approximately $35,000. Finally, Wexford Capital LP acquired a new position in shares of Nokia in the third quarter valued at approximately $29,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Price Performance

Shares of NYSE NOK opened at $8.40 on Thursday. The stock has a market capitalization of $48.23 billion, a PE ratio of 60.00, a P/E/G ratio of 1.01 and a beta of 1.17. Nokia Corporation has a fifty-two week low of $4.00 and a fifty-two week high of $17.45. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.50 and a quick ratio of 1.22. The business has a fifty day moving average price of $13.08 and a two-hundred day moving average price of $10.34.

Nokia (NYSE:NOK) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Nokia had a return on equity of 9.83% and a net margin of 3.49%.The company had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the business earned $0.04 earnings per share. Nokia’s revenue was up 8.4% on a year-over-year basis. As a group, equities analysts predict that Nokia Corporation will post 0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on NOK shares. Nordea Equity Research raised Nokia from a “hold” rating to a “buy” rating in a report on Friday, April 24th. Argus upgraded Nokia from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Monday, April 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a report on Tuesday, June 9th. Danske raised shares of Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Nokia in a research report on Friday, May 22nd. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.57.

Nokia Company Profile

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel?Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.