Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) was down 1.8% during trading on Thursday . The stock traded as low as $8.51 and last traded at $8.51, with a volume of 119,271 shares trading hands. The stock had previously closed at $8.67.

Separately, Zacks Investment Research upgraded shares of Turkcell Iletisim Hizmetleri A.S. from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research note on Saturday, June 18th.

The company’s 50 day moving average is $8.82 and its 200-day moving average is $9.41. The stock’s market capitalization is $7.52 billion.

An institutional investor recently raised its position in Turkcell Iletisim Hizmetleri A.S. stock. Morgan Stanley boosted its position in Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) by 12.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,926,388 shares of the company’s stock after buying an additional 312,562 shares during the period. Morgan Stanley owned 0.33% of Turkcell Iletisim Hizmetleri A.S. worth $24,845,000 at the end of the most recent quarter.

Turkcell Iletisim Hizmetleri AS is engaged in establishing and operating a global system for mobile communications (GSM) network in Turkey and regional states. The Company provides services to its consumer and corporate customers with its mobile, fixed broadband, television products and other media services.

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