Short Interest in Turkcell Iletisim Hizmetleri AS (NYSE:TKC) Grows By 124.7%

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totaling 3,706,613 shares, a growth of 124.7% from the May 31st total of 1,649,944 shares. Based on an average daily trading volume, of 2,345,041 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.4% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Turkcell Iletisim Hizmetleri AS in a research report on Wednesday, June 24th. Wall Street Zen cut Turkcell Iletisim Hizmetleri AS from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Turkcell Iletisim Hizmetleri AS Stock Up 0.4%

TKC traded up $0.03 during trading on Wednesday, reaching $5.91. 2,746,252 shares of the stock were exchanged, compared to its average volume of 1,373,755. The stock has a market cap of $5.20 billion, a P/E ratio of 12.30 and a beta of 0.97. Turkcell Iletisim Hizmetleri AS has a twelve month low of $5.35 and a twelve month high of $7.18. The stock’s 50 day moving average price is $6.08 and its two-hundred day moving average price is $6.19. 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) last posted its quarterly earnings results on Tuesday, March 31st. The Wireless communications provider reported $0.12 earnings per share (EPS) for the quarter. Turkcell Iletisim Hizmetleri AS had a net margin of 7.27% and a return on equity of 6.79%. The firm had revenue of $1.54 billion for the quarter. Equities analysts expect that Turkcell Iletisim Hizmetleri AS will post 0.93 EPS for the current year.

Hedge Funds Weigh In On Turkcell Iletisim Hizmetleri AS

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in Turkcell Iletisim Hizmetleri AS by 2,157.4% in the third quarter. JPMorgan Chase & Co. now owns 176,731 shares of the Wireless communications provider’s stock valued at $1,064,000 after buying an additional 168,902 shares during the period. Centiva Capital LP bought a new position in shares of Turkcell Iletisim Hizmetleri AS during the 3rd quarter worth approximately $786,000. Frank Rimerman Advisors LLC bought a new position in shares of Turkcell Iletisim Hizmetleri AS during the 4th quarter worth approximately $533,000. UBS Group AG increased its holdings in shares of Turkcell Iletisim Hizmetleri AS by 230.5% during the 4th quarter. UBS Group AG now owns 745,889 shares of the Wireless communications provider’s stock worth $4,080,000 after acquiring an additional 520,178 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Turkcell Iletisim Hizmetleri AS during the 1st quarter worth approximately $3,413,000.

About Turkcell Iletisim Hizmetleri AS

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.