Short Interest in Turkcell Iletisim Hizmetleri AS (NYSE:TKC) Declines By 59.1%

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) was the recipient of a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 1,531,839 shares, a drop of 59.1% from the June 30th total of 3,745,650 shares. Based on an average trading volume of 1,984,200 shares, the short-interest ratio is presently 0.8 days. Currently, 0.2% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Turkcell Iletisim Hizmetleri AS in a research report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Turkcell Iletisim Hizmetleri AS Price Performance

Turkcell Iletisim Hizmetleri AS stock opened at $5.57 on Monday. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 11.59 and a beta of 0.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.69 and a quick ratio of 1.68. Turkcell Iletisim Hizmetleri AS has a 1 year low of $5.35 and a 1 year high of $7.18. The firm has a 50-day moving average of $5.87 and a two-hundred day moving average of $6.19.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) last issued its earnings results on Tuesday, March 31st. The Wireless communications provider reported $0.12 EPS for the quarter. The business had revenue of $1.54 billion for the quarter. Turkcell Iletisim Hizmetleri AS had a net margin of 7.27% and a return on equity of 6.79%. On average, research analysts forecast that Turkcell Iletisim Hizmetleri AS will post 0.93 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TKC. Millennium Management LLC increased its holdings in Turkcell Iletisim Hizmetleri AS by 326.4% during the 3rd quarter. Millennium Management LLC now owns 3,495,391 shares of the Wireless communications provider’s stock worth $21,042,000 after purchasing an additional 2,675,681 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Turkcell Iletisim Hizmetleri AS by 12.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,973,174 shares of the Wireless communications provider’s stock worth $16,263,000 after buying an additional 339,410 shares during the period. Two Sigma Investments LP lifted its holdings in shares of Turkcell Iletisim Hizmetleri AS by 103.5% in the 3rd quarter. Two Sigma Investments LP now owns 1,966,828 shares of the Wireless communications provider’s stock worth $11,840,000 after buying an additional 1,000,311 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Turkcell Iletisim Hizmetleri AS by 28.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,649,707 shares of the Wireless communications provider’s stock worth $9,948,000 after buying an additional 369,107 shares during the period. Finally, State Street Corp grew its position in shares of Turkcell Iletisim Hizmetleri AS by 34.3% during the 4th quarter. State Street Corp now owns 1,026,095 shares of the Wireless communications provider’s stock worth $5,705,000 after buying an additional 261,791 shares in the last quarter.

About Turkcell Iletisim Hizmetleri AS

Turkcell Iletisim Hizmetleri AS, traded on the NYSE under the symbol TKC, is a leading integrated telecommunications and technology company headquartered in Istanbul, Turkey. Since its founding in 1994 as the country’s first GSM operator, Turkcell has expanded its footprint to offer a comprehensive suite of mobile voice, messaging and data services to millions of subscribers. The company has made significant investments in nationwide 4.5G and 5G network infrastructure to deliver high-speed connectivity across both urban centers and rural regions.

In addition to its core mobile offerings, Turkcell provides fixed broadband and fiber-optic services tailored to consumer and enterprise customers.