Granite Point Capital Management L.P. Purchases New Position in Nokia Oyj (NOK)

Granite Point Capital Management L.P. purchased a new stake in Nokia Oyj (NYSE:NOK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 350,000 shares of the technology company’s stock, valued at approximately $2,037,000. Nokia Oyj makes up approximately 0.4% of Granite Point Capital Management L.P.’s investment portfolio, making the stock its 28th largest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mackenzie Financial Corp raised its holdings in Nokia Oyj by 29.3% in the 3rd quarter. Mackenzie Financial Corp now owns 32,166,684 shares of the technology company’s stock valued at $179,490,000 after buying an additional 7,296,372 shares during the last quarter. Levin Capital Strategies L.P. raised its holdings in Nokia Oyj by 13.1% in the 3rd quarter. Levin Capital Strategies L.P. now owns 35,115,138 shares of the technology company’s stock valued at $195,942,000 after buying an additional 4,079,776 shares during the last quarter. Kirr Marbach & Co. LLC IN bought a new position in Nokia Oyj in the 4th quarter valued at approximately $7,142,000. Folketrygdfondet raised its holdings in Nokia Oyj by 5.0% in the 3rd quarter. Folketrygdfondet now owns 24,195,490 shares of the technology company’s stock valued at $135,011,000 after buying an additional 1,150,488 shares during the last quarter. Finally, Selz Capital LLC bought a new position in Nokia Oyj in the 4th quarter valued at approximately $6,402,000. Institutional investors own 6.59% of the company’s stock.

Nokia Oyj stock opened at $6.19 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.29 and a quick ratio of 1.07. Nokia Oyj has a 52-week low of $5.07 and a 52-week high of $6.65. The company has a market cap of $34.71 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 2.04 and a beta of 0.39.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings results on Thursday, January 31st. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. Nokia Oyj had a negative net margin of 1.58% and a positive return on equity of 8.03%. The firm had revenue of $7.84 billion during the quarter, compared to analyst estimates of $7.61 billion. Analysts forecast that Nokia Oyj will post 0.3 earnings per share for the current year.

A number of research analysts recently issued reports on NOK shares. ValuEngine upgraded shares of Nokia Oyj from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. Zacks Investment Research upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a report on Wednesday, October 24th. DNB Markets upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Thursday, October 25th. Canaccord Genuity upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 26th. Finally, BMO Capital Markets upgraded shares of Nokia Oyj from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $5.00 to $7.50 in a report on Thursday, January 3rd. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Nokia Oyj presently has an average rating of “Hold” and a consensus price target of $6.81.

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Nokia Oyj Company Profile

Nokia Corporation engages in the network and technology businesses worldwide. The company operates through four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides mobile networking solutions, including hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals.

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Institutional Ownership by Quarter for Nokia Oyj (NYSE:NOK)

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