Shah Capital Management boosted its stake in Mobile TeleSystems OAO (NYSE:MBT) by 80.5% during the third quarter, Holdings Channel reports. The fund owned 285,000 shares of the company’s stock after buying an additional 127,072 shares during the period. Mobile TeleSystems OAO accounts for 1.2% of Shah Capital Management’s portfolio, making the stock its 16th largest position. Shah Capital Management’s holdings in Mobile TeleSystems OAO were worth $2,174,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pacad Investment Ltd. bought a new position in shares of Mobile TeleSystems OAO during the second quarter valued at $100,000. Quantbot Technologies LP bought a new position in shares of Mobile TeleSystems OAO during the second quarter valued at $102,000. Profund Advisors LLC bought a new position in shares of Mobile TeleSystems OAO during the second quarter valued at $102,000. OLD Mission Capital LLC bought a new position in shares of Mobile TeleSystems OAO during the first quarter valued at $119,000. Finally, Princeton Alpha Management LP bought a new position in shares of Mobile TeleSystems OAO during the second quarter valued at $125,000. Hedge funds and other institutional investors own 29.73% of the company’s stock.
Shares of Mobile TeleSystems OAO (NYSE:MBT) opened at 7.61 on Thursday. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 5.21 and a beta of 1.20. The stock has a 50 day moving average price of $7.96 and a 200-day moving average price of $8.59. Mobile TeleSystems OAO has a 52 week low of $5.15 and a 52 week high of $9.47.
The company also recently announced a dividend, which will be paid on Monday, November 21st. Investors of record on Friday, October 14th will be given a $0.3837 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This is a boost from Mobile TeleSystems OAO’s previous dividend of $0.32. Mobile TeleSystems OAO’s dividend payout ratio is 48.53%.
Several analysts have commented on MBT shares. HSBC lowered Mobile TeleSystems OAO from a “buy” rating to a “hold” rating in a report on Thursday, September 1st. Zacks Investment Research raised Mobile TeleSystems OAO from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. Finally, Credit Suisse Group AG started coverage on Mobile TeleSystems OAO in a report on Monday, June 20th. They issued an “outperform” rating and a $10.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $9.69.
Mobile TeleSystems OAO Company Profile
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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