Forward Management LLC raised its position in Mobile TeleSystems OJSC (NYSE:MBT) by 95.8% during the second quarter, Holdings Channel reports. The institutional investor owned 93,000 shares of the Wireless communications provider’s stock after buying an additional 45,500 shares during the period. Forward Management LLC’s holdings in Mobile TeleSystems OJSC were worth $779,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Greenleaf Trust acquired a new position in shares of Mobile TeleSystems OJSC during the second quarter worth $115,000. Quantbot Technologies LP acquired a new position in shares of Mobile TeleSystems OJSC during the first quarter worth $130,000. M&T Bank Corp acquired a new position in shares of Mobile TeleSystems OJSC during the first quarter worth $134,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Mobile TeleSystems OJSC during the second quarter worth $150,000. Finally, Symphony Asset Management LLC acquired a new position in shares of Mobile TeleSystems OJSC during the first quarter worth $165,000. Hedge funds and other institutional investors own 34.95% of the company’s stock.

Mobile TeleSystems OJSC (NYSE MBT) opened at 8.43 on Friday. Mobile TeleSystems OJSC has a 12 month low of $7.09 and a 12 month high of $11.59. The company has a market cap of $8.34 billion, a price-to-earnings ratio of 5.60 and a beta of 0.94. The firm’s 50-day moving average is $8.43 and its 200-day moving average is $9.70.

The firm also recently declared a None dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a dividend of $0.412 per share. The ex-dividend date of this dividend was Thursday, July 6th. Mobile TeleSystems OJSC’s payout ratio is currently 96.00%.

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MBT has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Mobile TeleSystems OJSC from a “hold” rating to a “buy” rating and set a $9.75 target price for the company in a research report on Tuesday, June 27th. Morgan Stanley lowered shares of Mobile TeleSystems OJSC from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $12.60 to $9.90 in a research report on Thursday, May 4th. BidaskClub upgraded shares of Mobile TeleSystems OJSC from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, J P Morgan Chase & Co upgraded shares of Mobile TeleSystems OJSC from a “neutral” rating to an “overweight” rating and set a $10.50 target price for the company in a research report on Wednesday, July 26th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $10.05.

Mobile TeleSystems OJSC 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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Institutional Ownership by Quarter for Mobile TeleSystems OJSC (NYSE:MBT)

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