Mobile TeleSystems OJSC (MBT) Shares Sold by Northern Trust Corp

Northern Trust Corp trimmed its holdings in Mobile TeleSystems OJSC (NYSE:MBT) by 0.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,608,802 shares of the Wireless communications provider’s stock after selling 29,778 shares during the quarter. Northern Trust Corp owned about 0.46% of Mobile TeleSystems OJSC worth $38,621,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MBT. Comerica Bank raised its holdings in shares of Mobile TeleSystems OJSC by 1.1% in the first quarter. Comerica Bank now owns 58,222 shares of the Wireless communications provider’s stock valued at $603,000 after buying an additional 660 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Mobile TeleSystems OJSC in the first quarter valued at about $711,000. Parametric Portfolio Associates LLC raised its holdings in shares of Mobile TeleSystems OJSC by 44.6% in the first quarter. Parametric Portfolio Associates LLC now owns 573,364 shares of the Wireless communications provider’s stock valued at $6,324,000 after buying an additional 176,945 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Mobile TeleSystems OJSC by 11.4% in the first quarter. Envestnet Asset Management Inc. now owns 17,971 shares of the Wireless communications provider’s stock valued at $198,000 after buying an additional 1,838 shares during the last quarter. Finally, M&T Bank Corp bought a new position in shares of Mobile TeleSystems OJSC in the first quarter valued at about $134,000. 32.11% of the stock is owned by institutional investors and hedge funds.

Mobile TeleSystems OJSC (NYSE:MBT) last announced its quarterly earnings results on Monday, August 28th. The Wireless communications provider reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.04. Mobile TeleSystems OJSC had a return on equity of 40.25% and a net margin of 12.42%. The firm had revenue of $1.87 billion for the quarter.

A number of research firms recently issued reports on MBT. ValuEngine raised Mobile TeleSystems OJSC from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. J P Morgan Chase & Co raised Mobile TeleSystems OJSC from a “neutral” rating to an “overweight” rating and set a $10.50 price target for the company in a report on Wednesday, July 26th. Zacks Investment Research cut Mobile TeleSystems OJSC from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub raised Mobile TeleSystems OJSC from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Deutsche Bank AG began coverage on Mobile TeleSystems OJSC in a report on Tuesday, September 12th. They set a “buy” rating and a $12.50 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $10.97.

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Mobile TeleSystems OJSC Profile

Mobile TeleSystems Public Joint Stock Company, formerly Mobile TeleSystems Open Joint Stock Company, is a 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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