Pinebridge Investments L.P. Invests $635,000 in Mobile TeleSystems OJSC (MBT)

Pinebridge Investments L.P. acquired a new stake in Mobile TeleSystems OJSC (NYSE:MBT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 60,781 shares of the Wireless communications provider’s stock, valued at approximately $635,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Strategic Global Advisors LLC bought a new stake in Mobile TeleSystems OJSC in the 3rd quarter valued at $417,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Mobile TeleSystems OJSC in the third quarter valued at $17,133,000. Brandes Investment Partners LP raised its stake in shares of Mobile TeleSystems OJSC by 4.8% in the third quarter. Brandes Investment Partners LP now owns 4,697,044 shares of the Wireless communications provider’s stock valued at $49,037,000 after buying an additional 213,316 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Mobile TeleSystems OJSC by 19.7% in the third quarter. JPMorgan Chase & Co. now owns 9,438,681 shares of the Wireless communications provider’s stock valued at $99,861,000 after buying an additional 1,554,205 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Mobile TeleSystems OJSC by 21.9% in the third quarter. Legal & General Group Plc now owns 856,562 shares of the Wireless communications provider’s stock valued at $8,942,000 after buying an additional 153,699 shares during the period. Institutional investors and hedge funds own 32.22% of the company’s stock.

Mobile TeleSystems OJSC (NYSE MBT) traded down $0.21 during midday trading on Monday, hitting $8.73. The stock had a trading volume of 3,981,700 shares, compared to its average volume of 3,009,813. Mobile TeleSystems OJSC has a 12 month low of $7.76 and a 12 month high of $11.59. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.86 and a current ratio of 0.93. The company has a market cap of $8,685.96, a price-to-earnings ratio of 8.91, a PEG ratio of 0.82 and a beta of 0.94.

MBT has been the subject of several recent analyst reports. Zacks Investment Research cut Mobile TeleSystems OJSC from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Deutsche Bank cut Mobile TeleSystems OJSC from a “buy” rating to a “hold” rating and set a $11.00 price objective for the company. in a report on Wednesday, December 6th. BidaskClub upgraded Mobile TeleSystems OJSC from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. TheStreet upgraded Mobile TeleSystems OJSC from a “c” rating to a “b-” rating in a report on Friday, November 17th. Finally, ValuEngine upgraded Mobile TeleSystems OJSC from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $10.85.

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Mobile TeleSystems OJSC Company Profile

Mobil’nye Telesistemy PAO is a Russia-based 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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