Comerica Bank lessened its stake in shares of Mobile TeleSystems OJSC (NYSE:MBT) by 7.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,135 shares of the Wireless communications provider’s stock after selling 4,087 shares during the quarter. Comerica Bank’s holdings in Mobile TeleSystems OJSC were worth $454,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Legal & General Group Plc boosted its stake in Mobile TeleSystems OJSC by 12.7% during the second quarter. Legal & General Group Plc now owns 702,863 shares of the Wireless communications provider’s stock worth $5,890,000 after buying an additional 79,182 shares during the period. Bank of New York Mellon Corp boosted its stake in Mobile TeleSystems OJSC by 28.5% during the second quarter. Bank of New York Mellon Corp now owns 4,229,988 shares of the Wireless communications provider’s stock worth $35,447,000 after buying an additional 937,432 shares during the period. Alps Advisors Inc. boosted its stake in Mobile TeleSystems OJSC by 79.9% during the second quarter. Alps Advisors Inc. now owns 95,484 shares of the Wireless communications provider’s stock worth $800,000 after buying an additional 42,411 shares during the period. SG Americas Securities LLC boosted its stake in Mobile TeleSystems OJSC by 460.1% during the second quarter. SG Americas Securities LLC now owns 834,507 shares of the Wireless communications provider’s stock worth $6,993,000 after buying an additional 685,503 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Mobile TeleSystems OJSC by 20.6% during the second quarter. Advisors Asset Management Inc. now owns 98,112 shares of the Wireless communications provider’s stock worth $822,000 after buying an additional 16,738 shares during the period. 32.11% of the stock is owned by institutional investors.

Mobile TeleSystems OJSC (NYSE:MBT) opened at 10.19 on Tuesday. The stock has a 50 day moving average of $9.50 and a 200 day moving average of $9.55. The stock has a market cap of $9.96 billion, a price-to-earnings ratio of 5.93 and a beta of 0.91. Mobile TeleSystems OJSC has a 1-year low of $7.09 and a 1-year high of $11.59.

Mobile TeleSystems OJSC (NYSE:MBT) last posted its earnings results on Monday, August 28th. The Wireless communications provider reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.04. The firm had revenue of $1.87 billion during the quarter. Mobile TeleSystems OJSC had a net margin of 12.42% and a return on equity of 40.25%. Equities analysts expect that Mobile TeleSystems OJSC will post $0.97 earnings per share for the current year.

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MBT has been the subject of several research analyst reports. BidaskClub lowered shares of Mobile TeleSystems OJSC from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Zacks Investment Research lowered shares of Mobile TeleSystems OJSC from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. J P Morgan Chase & Co raised 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 note on Wednesday, July 26th. ValuEngine raised shares of Mobile TeleSystems OJSC from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, Deutsche Bank AG initiated coverage on shares of Mobile TeleSystems OJSC in a research note on Tuesday, September 12th. They set a “buy” rating and a $12.50 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $10.66.

Mobile TeleSystems OJSC 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.

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

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