Turkcell Iletisim Hizmetleri AS (NYSE:TKC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “Turkcell is the leading provider of mobile communications services in Turkey. “

Shares of Turkcell Iletisim Hizmetleri AS (NYSE:TKC) opened at 7.14 on Thursday. The company’s 50-day moving average is $7.67 and its 200 day moving average is $8.46. Turkcell Iletisim Hizmetleri AS has a 1-year low of $6.99 and a 1-year high of $10.87. The firm’s market capitalization is $6.64 billion.

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A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new position in shares of Turkcell Iletisim Hizmetleri AS during the second quarter valued at about $115,000. Princeton Alpha Management LP increased its position in shares of Turkcell Iletisim Hizmetleri AS by 8.4% in the second quarter. Princeton Alpha Management LP now owns 13,650 shares of the company’s stock valued at $125,000 after buying an additional 1,052 shares in the last quarter. Checchi Capital Advisers LLC increased its position in shares of Turkcell Iletisim Hizmetleri AS by 10.2% in the second quarter. Checchi Capital Advisers LLC now owns 14,048 shares of the company’s stock valued at $129,000 after buying an additional 1,302 shares in the last quarter. Private Bank & Trust Co. increased its position in shares of Turkcell Iletisim Hizmetleri AS by 27.6% in the second quarter. Private Bank & Trust Co. now owns 14,442 shares of the company’s stock valued at $132,000 after buying an additional 3,122 shares in the last quarter. Finally, Raymond James Trust N.A. increased its position in shares of Turkcell Iletisim Hizmetleri AS by 0.7% in the third quarter. Raymond James Trust N.A. now owns 17,283 shares of the company’s stock valued at $139,000 after buying an additional 124 shares in the last quarter. 5.81% of the stock is owned by hedge funds and other institutional investors.

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 provides services to its consumer and corporate customers with its mobile, fixed broadband, television products and other media services.

5 Day Chart for NYSE:TKC

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