Oldfield Partners LLP Reduces Holdings in Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC)

Oldfield Partners LLP decreased its position in shares of Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) by 46.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 901,627 shares of the Wireless communications provider’s stock after selling 774,290 shares during the quarter. Turkcell Iletisim Hizmetleri A.S. makes up about 0.5% of Oldfield Partners LLP’s holdings, making the stock its 12th largest position. Oldfield Partners LLP’s holdings in Turkcell Iletisim Hizmetleri A.S. were worth $3,219,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV purchased a new stake in Turkcell Iletisim Hizmetleri A.S. in the 1st quarter valued at approximately $117,000. Segall Bryant & Hamill LLC purchased a new stake in Turkcell Iletisim Hizmetleri A.S. in the 1st quarter valued at approximately $102,000. State Street Corp boosted its holdings in Turkcell Iletisim Hizmetleri A.S. by 2.9% in the 1st quarter. State Street Corp now owns 1,000,856 shares of the Wireless communications provider’s stock valued at $4,304,000 after purchasing an additional 28,633 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Turkcell Iletisim Hizmetleri A.S. in the 1st quarter valued at approximately $255,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Turkcell Iletisim Hizmetleri A.S. by 134.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 721,454 shares of the Wireless communications provider’s stock valued at $3,102,000 after purchasing an additional 413,443 shares in the last quarter.

Turkcell Iletisim Hizmetleri A.S. Trading Down 1.0 %

Shares of TKC stock traded down $0.05 during midday trading on Tuesday, reaching $5.06. 54,833 shares of the company traded hands, compared to its average volume of 402,016. The firm’s 50 day simple moving average is $4.87 and its two-hundred day simple moving average is $4.42. Turkcell Iletisim Hizmetleri A.S. has a 1-year low of $2.66 and a 1-year high of $5.63. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.67 and a quick ratio of 1.66.

Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) last issued its quarterly earnings data on Thursday, August 17th. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter. Turkcell Iletisim Hizmetleri A.S. had a return on equity of 32.78% and a net margin of 20.94%. The firm had revenue of $979.68 million during the quarter. Equities research analysts anticipate that Turkcell Iletisim Hizmetleri A.S. will post 0.84 EPS for the current year.

Turkcell Iletisim Hizmetleri A.S. Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, December 21st will be given a dividend of $0.0953 per share. The ex-dividend date is Wednesday, December 20th. This represents a dividend yield of 1.6%. Turkcell Iletisim Hizmetleri A.S.’s dividend payout ratio is currently 7.14%.

Wall Street Analysts Forecast Growth

TKC has been the topic of a number of analyst reports. TheStreet raised Turkcell Iletisim Hizmetleri A.S. from a “c+” rating to a “b-” rating in a report on Friday. StockNews.com upgraded shares of Turkcell Iletisim Hizmetleri A.S. from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 25th.

About Turkcell Iletisim Hizmetleri A.S.

Turkcell Iletisim Hizmetleri A.S. provides digital services in Turkey, Ukraine, Belarus, Turkish Republic of Northern Cyprus, and the Netherlands. It operates through Turkcell Turkey, Turkcell International, and Techfin segments. It offers work contact services, such as mobile communications, fixed business internet and business phone, and customer loyalty and programs; digital business services comprising uninterrupted access, cyber security, data center, Internet of Things, big data, e-transformation, technologies, and managed services, and cloud solutions.