Short Interest in Turkcell Iletisim Hizmetleri AS (NYSE:TKC) Rises By 45.8%

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 1,055,145 shares, an increase of 45.8% from the October 13th total of 723,761 shares. Based on an average daily trading volume, of 665,358 shares, the days-to-cover ratio is currently 1.6 days.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wetherby Asset Management Inc. boosted its stake in shares of Turkcell Iletisim Hizmetleri AS by 0.8% in the second quarter. Wetherby Asset Management Inc. now owns 24,876 shares of the Wireless communications provider’s stock valued at $204,000 after purchasing an additional 188 shares during the period. Raymond James Trust N.A. boosted its stake in shares of Turkcell Iletisim Hizmetleri AS by 0.9% in the second quarter. Raymond James Trust N.A. now owns 22,845 shares of the Wireless communications provider’s stock valued at $188,000 after purchasing an additional 201 shares during the period. Fox Run Management L.L.C. boosted its stake in shares of Turkcell Iletisim Hizmetleri AS by 5.2% in the second quarter. Fox Run Management L.L.C. now owns 18,300 shares of the Wireless communications provider’s stock valued at $150,000 after purchasing an additional 900 shares during the period. NGAM Advisors L.P. boosted its stake in shares of Turkcell Iletisim Hizmetleri AS by 0.3% in the second quarter. NGAM Advisors L.P. now owns 518,581 shares of the Wireless communications provider’s stock valued at $4,252,000 after purchasing an additional 1,485 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Turkcell Iletisim Hizmetleri AS by 41.2% in the first quarter. Ameriprise Financial Inc. now owns 14,163 shares of the Wireless communications provider’s stock valued at $117,000 after purchasing an additional 4,136 shares during the period. Institutional investors own 3.33% of the company’s stock.

Shares of Turkcell Iletisim Hizmetleri AS (TKC) remained flat at $$9.49 on Monday. The stock had a trading volume of 1,008,037 shares, compared to its average volume of 523,415. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.62 and a quick ratio of 1.61. The company has a market cap of $8,351.20, a price-to-earnings ratio of 11.86 and a beta of 0.97. Turkcell Iletisim Hizmetleri AS has a fifty-two week low of $6.36 and a fifty-two week high of $9.79.

The business also recently announced an annual dividend, which will be paid on Tuesday, December 26th. Investors of record on Monday, December 18th will be issued a $0.2887 dividend. This represents a yield of 3.16%. This is an increase from Turkcell Iletisim Hizmetleri AS’s previous annual dividend of $0.14. The ex-dividend date is Friday, December 15th. Turkcell Iletisim Hizmetleri AS’s payout ratio is presently 77.94%.

Several equities research analysts recently commented on TKC shares. Zacks Investment Research raised shares of Turkcell Iletisim Hizmetleri AS from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Saturday, September 16th. TheStreet raised shares of Turkcell Iletisim Hizmetleri AS from a “c” rating to a “b-” rating in a report on Wednesday, August 16th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $10.00.

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About Turkcell Iletisim Hizmetleri AS

Turkcell Iletisim Hizmetleri AS is engaged in establishing and operating a Global System for Mobile Communications (GSM) network in Turkey and regional states. The Company’s segments include Turkcell Turkey, which includes the operations of Turkcell Superonline, Turkcell Satis ve Dagitim Hizmetleri A.S., group call center operations of Global Bilgi Pazarlama Danisma ve Cagri Servisi Hizmetleri A.S., Turktell Bilisim Servisleri A.S., Kule Hizmet ve Isletmecilik A.S., Turkcell Odeme Hizmetleri A.S.

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