Forward Management LLC increased its position in shares of Mobile TeleSystems OAO (NYSE:MBT) by 14.6% during the third quarter, Holdings Channel reports. The institutional investor owned 65,000 shares of the company’s stock after buying an additional 8,300 shares during the period. Forward Management LLC’s holdings in Mobile TeleSystems OAO were worth $496,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pacad Investment Ltd. acquired a new stake in shares of Mobile TeleSystems OAO during the second quarter valued at $100,000. Ronald Blue & Co. LLC acquired a new stake in shares of Mobile TeleSystems OAO during the third quarter valued at $101,000. Quantbot Technologies LP acquired a new stake in shares of Mobile TeleSystems OAO during the second quarter valued at $102,000. Profund Advisors LLC acquired a new stake in shares of Mobile TeleSystems OAO during the second quarter valued at $102,000. Finally, Huntington National Bank increased its stake in shares of Mobile TeleSystems OAO by 35.8% in the third quarter. Huntington National Bank now owns 14,934 shares of the company’s stock valued at $114,000 after buying an additional 3,936 shares during the last quarter. Institutional investors and hedge funds own 31.03% of the company’s stock.
Mobile TeleSystems OAO (NYSE:MBT) remained flat at $7.66 during mid-day trading on Friday. The company’s stock had a trading volume of 3,319,727 shares. Mobile TeleSystems OAO has a 52-week low of $5.15 and a 52-week high of $9.47. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 5.46 and a beta of 1.07. The company’s 50-day moving average is $7.54 and its 200 day moving average is $8.31.
The business also recently disclosed a dividend, which was paid on Monday, November 21st. Stockholders of record on Friday, October 14th were paid a $0.3837 dividend. This is a positive change from Mobile TeleSystems OAO’s previous dividend of $0.32. The ex-dividend date of this dividend was Wednesday, October 12th. Mobile TeleSystems OAO’s dividend payout ratio is currently 98.46%.
Several analysts have weighed in on the company. Zacks Investment Research downgraded Mobile TeleSystems OAO from a “buy” rating to a “sell” rating in a research note on Tuesday. Citigroup Inc. raised Mobile TeleSystems OAO from a “neutral” rating to a “buy” rating in a research note on Monday. Finally, HSBC downgraded Mobile TeleSystems OAO from a “buy” rating to a “hold” rating in a research note on Thursday, September 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $9.39.
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.