Phoenix Holdings Ltd.
stated that they own 8.9% of Partner Communications Company Ltd. (NASDAQ:PTNR) in a Form 13G/A disclosure that was filed with the Securities and Exchange Commission on Wednesday, August 23rd. The investor owns 13,931,155 shares of the stock worth approximately $66,100,544. The reporting parties listed on the disclosure included Itshak Sharon (Tshuva), Delek Group Ltd and The Phoenix Holding Ltd. The filing is available through Edgar at this hyperlink.
Phoenix Holdings Ltd.
provided the following explanation of their ownership:
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Other hedge funds and other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of Partner Communications by 0.3% in the first quarter. Renaissance Technologies LLC now owns 2,672,200 shares of the Wireless communications provider’s stock valued at $13,973,000 after buying an additional 7,600 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Partner Communications during the first quarter valued at about $434,000. Finally, Karp Capital Management Corp bought a new position in shares of Partner Communications during the first quarter valued at about $173,000. 1.98% of the stock is owned by institutional investors and hedge funds.
Partner Communications Company Ltd. (NASDAQ PTNR) traded up 4.75% on Wednesday, hitting $4.97. The stock had a trading volume of 1,700 shares. Partner Communications Company Ltd. has a 52-week low of $4.11 and a 52-week high of $6.41. The company has a market capitalization of $831.46 million, a price-to-earnings ratio of 29.24 and a beta of 1.80.
Partner Communications (NASDAQ:PTNR) last announced its quarterly earnings data on Wednesday, August 16th. The Wireless communications provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by $0.03. Partner Communications had a net margin of 3.05% and a return on equity of 8.32%. The company had revenue of $230 million for the quarter. Equities research analysts forecast that Partner Communications Company Ltd. will post $3.25 earnings per share for the current year.
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PTNR has been the subject of several analyst reports. Roth Capital began coverage on Partner Communications in a research report on Friday, July 7th. They set a “buy” rating and a $16.00 target price for the company. BidaskClub lowered Partner Communications from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd.
About Partner Communications
Partner Communications Company Ltd. is a telecommunications company. The Company is engaged in the business of cellular telephony, provided on its second generation (2G), third generation (3G) and fourth generation (4G) networks. It operates through two segments: cellular segment and fixed-line segment.
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