Partner Communications Company Ltd. (NASDAQ:PTNR) sees sharp drop in short-term interest

Partner Communications Company Ltd. (NASDAQ:PTNR – Get Rating) saw a significant drop in short-term interest during the month of June. As of June 15, there was short interest totaling 1,000 shares, down 16.7% from the May 31 total of 1,200 shares. Based on an average daily volume of 3,900 shares, the short interest rate is currently 0.3 day.

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Envestnet Asset Management Inc. bought a new stake in Partner Communications in Q1 valued at $94,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Partner Communications in Q4 valued at $162,000. Finally, Jane Street Group LLC increased its position in Partner Communications by 241.7% in the 1st quarter. Jane Street Group LLC now owns 39,399 shares of the wireless communications provider valued at $325,000 after buying an additional 27,869 shares in the last quarter. 2.03% of the shares are held by institutional investors and hedge funds.

Several stock analysts have published reports on the company. StockNews.com took over partner communications coverage in a Thursday, June 30, research note. They issued a “hold” rating on the stock. Barclays set a target price of 3,000.00 on Partner Communications in a research report on Thursday June 2.

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NASDAQ PTNR opened at $7.26 on Tuesday. The company has a market capitalization of $1.34 billion, a P/E ratio of 26.89 and a beta of 0.74. The company has a fifty-day simple moving average of $7.27 and a 200-day simple moving average of $7.75. Partner Communications has a 12-month low of $3.92 and a 12-month high of $9.27. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt ratio of 0.74.

Partner Communications Company Profile (Get an assessment)

Partner Communications Company Ltd. provides various telecommunication services in Israel. It operates in two segments, Cellular and Fixed. The company offers cellular phone services, including basic cellular telephony, text messaging, Internet browsing and data transfer, content, handset repair, roaming and services provided to others operators authorized to use its cellular network, as well as Machine to Machine and Internet of Things services.

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