Engineers Gate Manager LP Invests $599,000 in Nokia Oyj (NOK)
Engineers Gate Manager LP purchased a new stake in shares of Nokia Oyj (NYSE:NOK) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 107,400 shares of the technology company’s stock, valued at approximately $599,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BB&T Securities LLC acquired a new position in shares of Nokia Oyj during the second quarter valued at $105,000. OLD National Bancorp IN acquired a new position in shares of Nokia Oyj during the second quarter valued at $129,000. Envestnet Asset Management Inc. boosted its holdings in shares of Nokia Oyj by 816.1% during the second quarter. Envestnet Asset Management Inc. now owns 40,988 shares of the technology company’s stock valued at $236,000 after acquiring an additional 36,514 shares during the period. Centaurus Financial Inc. boosted its holdings in shares of Nokia Oyj by 63.4% during the second quarter. Centaurus Financial Inc. now owns 42,561 shares of the technology company’s stock valued at $245,000 after acquiring an additional 16,511 shares during the period. Finally, Institute for Wealth Management LLC. boosted its holdings in shares of Nokia Oyj by 61.9% during the second quarter. Institute for Wealth Management LLC. now owns 44,204 shares of the technology company’s stock valued at $250,000 after acquiring an additional 16,905 shares during the period. 6.95% of the stock is owned by institutional investors.
NOK has been the subject of several research analyst reports. Credit Suisse Group raised shares of Nokia Oyj from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $5.56 to $7.00 in a report on Wednesday, September 19th. Nordea Equity Research raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, July 27th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Nokia Oyj in a report on Monday, September 17th. Zacks Investment Research raised shares of Nokia Oyj from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a report on Wednesday, October 24th. Finally, DNB Markets raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a report on Thursday, October 25th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.92.
Nokia Oyj (NYSE:NOK) last posted its quarterly earnings data on Thursday, October 25th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.56 billion. Nokia Oyj had a negative net margin of 4.12% and a positive return on equity of 8.03%. On average, analysts anticipate that Nokia Oyj will post 0.26 EPS for the current fiscal year.
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Nokia Oyj Profile
Nokia Corporation engages in the network and technology businesses worldwide. The company operates through four segments: Ultra Broadband Networks, Global Services, IP Networks and Applications, and Nokia Technologies. It provides mobile networking solutions, including hardware, software, and services for telecommunications operators, enterprises, and related markets/verticals.
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