Prudential Financial Inc. Buys 312,700 Shares of Mobile TeleSystems OJSC (MBT)
Prudential Financial Inc. grew its stake in Mobile TeleSystems OJSC (NYSE:MBT) by 48.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 957,100 shares of the Wireless communications provider’s stock after buying an additional 312,700 shares during the quarter. Prudential Financial Inc. owned 0.10% of Mobile TeleSystems OJSC worth $8,020,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in shares of Mobile TeleSystems OJSC in the 1st quarter valued at about $130,000. M&T Bank Corp purchased a new stake in Mobile TeleSystems OJSC during the first quarter worth approximately $134,000. Greenleaf Trust purchased a new stake in Mobile TeleSystems OJSC during the second quarter worth approximately $115,000. Lapides Asset Management LLC lifted its stake in Mobile TeleSystems OJSC by 25.7% during the second quarter. Lapides Asset Management LLC now owns 14,200 shares of the Wireless communications provider’s stock worth $119,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Ronald Blue & Co. LLC lifted its stake in Mobile TeleSystems OJSC by 4.6% during the first quarter. Ronald Blue & Co. LLC now owns 16,872 shares of the Wireless communications provider’s stock worth $186,000 after purchasing an additional 738 shares during the last quarter. Institutional investors and hedge funds own 32.15% of the company’s stock.
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MBT has been the subject of several recent analyst reports. BidaskClub upgraded Mobile TeleSystems OJSC from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Zacks Investment Research upgraded Mobile TeleSystems OJSC from a “hold” rating to a “buy” rating and set a $9.75 target price for the company in a research note on Tuesday, June 27th. Deutsche Bank AG initiated coverage on Mobile TeleSystems OJSC in a research note on Tuesday. They set a “buy” rating and a $12.50 target price for the company. J P Morgan Chase & Co upgraded Mobile TeleSystems OJSC from a “neutral” rating to an “overweight” rating and set a $10.50 target price for the company in a research note on Wednesday, July 26th. Finally, ValuEngine upgraded Mobile TeleSystems OJSC from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Mobile TeleSystems OJSC presently has an average rating of “Buy” and a consensus price target of $10.66.
Mobile TeleSystems OJSC (NYSE MBT) opened at 10.97 on Friday. Mobile TeleSystems OJSC has a 52-week low of $7.09 and a 52-week high of $11.59. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 6.39 and a beta of 0.91. The firm’s 50-day moving average price is $9.32 and its 200 day moving average price is $9.56.
Mobile TeleSystems OJSC (NYSE:MBT) last issued its quarterly earnings results on Monday, August 28th. The Wireless communications provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $1.87 billion during the quarter. Mobile TeleSystems OJSC had a return on equity of 40.25% and a net margin of 12.42%. On average, equities research analysts forecast that Mobile TeleSystems OJSC will post $0.97 EPS for the current year.
About Mobile TeleSystems OJSC
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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