SPX Gestao de Recursos Ltda Buys New Stake in Telecom Argentina Stet – France Telecom S.A. $TEO

SPX Gestao de Recursos Ltda bought a new stake in shares of Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) in the first quarter, Holdings Channel reports. The fund bought 732,697 shares of the utilities provider’s stock, valued at approximately $8,565,000. Telecom Argentina Stet – France Telecom accounts for 0.7% of SPX Gestao de Recursos Ltda’s holdings, making the stock its 27th largest position.

Several other hedge funds also recently added to or reduced their stakes in TEO. Sagil Capital LLP acquired a new stake in Telecom Argentina Stet – France Telecom during the 4th quarter worth about $7,629,000. Banco BTG Pactual S.A. acquired a new position in shares of Telecom Argentina Stet – France Telecom in the 3rd quarter valued at about $2,725,000. RWC Asset Management LLP lifted its holdings in shares of Telecom Argentina Stet – France Telecom by 50.7% in the 4th quarter. RWC Asset Management LLP now owns 1,009,244 shares of the utilities provider’s stock valued at $11,717,000 after buying an additional 339,416 shares during the period. Marshall Wace LLP purchased a new stake in shares of Telecom Argentina Stet – France Telecom in the fourth quarter worth about $1,969,000. Finally, Two Sigma Investments LP boosted its stake in shares of Telecom Argentina Stet – France Telecom by 317.8% in the third quarter. Two Sigma Investments LP now owns 204,172 shares of the utilities provider’s stock worth $1,484,000 after buying an additional 155,299 shares during the last quarter.

Telecom Argentina Stet – France Telecom Trading Down 1.4%

Shares of Telecom Argentina Stet – France Telecom stock opened at $13.12 on Friday. The firm has a 50-day simple moving average of $13.21 and a two-hundred day simple moving average of $12.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.56 and a current ratio of 0.58. Telecom Argentina Stet – France Telecom S.A. has a fifty-two week low of $6.43 and a fifty-two week high of $16.34. The company has a market cap of $5.65 billion, a P/E ratio of 25.72 and a beta of 1.35.

Insider Buying and Selling at Telecom Argentina Stet – France Telecom

In other Telecom Argentina Stet – France Telecom news, Director Alejandro Alberto Urricelqui purchased 38,890 shares of Telecom Argentina Stet – France Telecom stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average price of $13.43 per share, with a total value of $522,292.70. Following the acquisition, the director owned 399,348 shares of the company’s stock, valued at $5,363,243.64. This trade represents a 10.79% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on TEO. Zacks Research lowered Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Wall Street Zen raised Telecom Argentina Stet – France Telecom from a “buy” rating to a “strong-buy” rating in a report on Saturday. JPMorgan Chase & Co. upped their price objective on Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 9th. Scotiabank raised their price objective on shares of Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the stock a “sector underperform” rating in a research note on Wednesday, May 27th. Finally, Morgan Stanley raised shares of Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $13.00 to $17.00 in a report on Wednesday, June 24th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.55.

Telecom Argentina Stet – France Telecom Company Profile

Telecom Argentina Stet – France Telecom (NYSE:TEO) is an integrated telecommunications provider based in Buenos Aires, Argentina. Originally formed through the 1990 privatization of the state-owned Empresa Nacional de Telecomunicaciones (ENTel), the company was initially backed by Italian state carrier STET and French operator France Télécom. Since its listing on the New York Stock Exchange under the ticker TEO, Telecom Argentina has evolved into one of the country’s principal communications groups, offering a comprehensive portfolio of voice and data services.

The company’s core business activities span fixed-line telephony, mobile services, broadband internet and digital television.