Sun Sep 15 10:47:00 UTC 2024: ## Choreo LLC Invests in Indonesian Telecom Giant Telekomunikasi Indonesia

**New York, NY – September 15, 2024** – Choreo LLC has made a new investment in Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK), a leading provider of information and communications technology and telecommunications network services worldwide. The investment firm acquired 32,781 shares of the utilities provider’s stock, valued at approximately $615,000, during the second quarter, as disclosed in the company’s most recent 13F filing with the Securities and Exchange Commission (SEC).

This move follows a trend of growing interest in Telekomunikasi Indonesia from other hedge funds. UMB Bank n.a. increased its stake in the company by 88.9% in the second quarter, while Mather Group LLC. purchased a new stake in the first quarter. EverSource Wealth Advisors LLC and CWM LLC also significantly increased their holdings in the company in recent quarters.

Adding to the positive sentiment surrounding Telekomunikasi Indonesia, StockNews.com upgraded the company’s stock rating from “hold” to “buy” on August 24th. This bullish outlook is further supported by the company’s strong financial performance. In the last quarter, Telekomunikasi Indonesia reported earnings per share of $0.36 and revenue of $2.35 billion.

Analysts are optimistic about the company’s future, with an average expectation of 1.69 EPS for the current fiscal year.

Telekomunikasi Indonesia’s stock opened at $20.39 on Friday, with a 50-day simple moving average of $19.01 and a 200-day simple moving average of $19.90. The company’s strong financial position, positive analyst sentiment, and recent interest from hedge funds suggest a bright future for the Indonesian telecom giant.

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