Mobile TeleSystems OJSC (MBT) Stock Price Up 5%

Shares of Mobile TeleSystems OJSC (NYSE:MBT) rose 5% during mid-day trading on Friday . The stock traded as high as $10.46 and last traded at $10.42. Approximately 3,788,388 shares changed hands during mid-day trading, an increase of 25% from the average daily volume of 3,034,428 shares. The stock had previously closed at $9.92.

MBT has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Mobile TeleSystems OJSC from a “hold” rating to a “sell” rating in a report on Tuesday, August 29th. ValuEngine raised shares of Mobile TeleSystems OJSC from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Deutsche Bank initiated coverage on shares of Mobile TeleSystems OJSC in a report on Tuesday, September 12th. They issued a “buy” rating and a $12.50 price target on the stock. Finally, TheStreet raised shares of Mobile TeleSystems OJSC from a “c” rating to a “b-” rating in a report on Friday, November 17th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $10.85.

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 firm has a market cap of $9,869.95, a P/E ratio of 10.63, a PEG ratio of 0.93 and a beta of 0.94.

Several institutional investors and hedge funds have recently made changes to their positions in MBT. Sciencast Management LP purchased a new position in shares of Mobile TeleSystems OJSC during the second quarter valued at approximately $103,000. Tudor Investment Corp ET AL purchased a new position in shares of Mobile TeleSystems OJSC during the second quarter valued at approximately $103,000. Visionary Asset Management Inc. purchased a new position in shares of Mobile TeleSystems OJSC during the third quarter valued at approximately $115,000. M&T Bank Corp lifted its stake in shares of Mobile TeleSystems OJSC by 23.5% during the second quarter. M&T Bank Corp now owns 14,978 shares of the Wireless communications provider’s stock valued at $126,000 after buying an additional 2,852 shares during the period. Finally, CIBC World Markets Inc. lifted its stake in shares of Mobile TeleSystems OJSC by 9.0% during the second quarter. CIBC World Markets Inc. now owns 20,732 shares of the Wireless communications provider’s stock valued at $174,000 after buying an additional 1,707 shares during the period. 32.06% of the stock is currently owned by institutional investors and hedge funds.

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About Mobile TeleSystems OJSC

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.

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