Telecom Argentina Stet – France Telecom (NYSE:TEO) Stock Price Up 8.2% – Here’s What Happened

Shares of Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) traded up 8.2% during trading on Wednesday. The company traded as high as $13.44 and last traded at $13.4960. Approximately 411,403 shares changed hands during trading, an increase of 17% from the average daily volume of 350,272 shares. The stock had previously closed at $12.47.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Santander started coverage on Telecom Argentina Stet – France Telecom in a report on Friday, October 16th. They issued an “outperform” rating for the company. Weiss Ratings raised Telecom Argentina Stet – France Telecom from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 16th. Wall Street Zen lowered shares of Telecom Argentina Stet – France Telecom from a “buy” rating to a “hold” rating in a research report on Sunday, September 20th. Zacks Research lowered Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Finally, UBS Group dropped their price target on Telecom Argentina Stet – France Telecom from $18.00 to $16.50 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.93.

Telecom Argentina Stet – France Telecom Stock Down 3.8%

The stock has a fifty day moving average price of $13.01 and a 200-day moving average price of $12.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.58. The firm has a market cap of $5.41 billion, a PE ratio of 10.21 and a beta of 1.35.

Insiders Place Their Bets

In other news, Director Baruki Luis Alberto Gonzalez sold 188,500 shares of Telecom Argentina Stet – France Telecom stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $2.78, for a total transaction of $524,030.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Telecom Argentina Stet – France Telecom

A number of hedge funds have recently made changes to their positions in TEO. Artemis Investment Management LLP bought a new stake in Telecom Argentina Stet – France Telecom in the third quarter valued at about $11,422,000. ABS Direct Equity Fund LLC acquired a new stake in shares of Telecom Argentina Stet – France Telecom during the second quarter worth $3,033,000. Engineers Gate Manager LP lifted its position in shares of Telecom Argentina Stet – France Telecom by 105.6% in the 2nd quarter. Engineers Gate Manager LP now owns 86,936 shares of the utilities provider’s stock worth $1,130,000 after buying an additional 44,647 shares during the last quarter. Absolute Gestao de Investimentos Ltda. grew its position in shares of Telecom Argentina Stet – France Telecom by 156.7% during the 2nd quarter. Absolute Gestao de Investimentos Ltda. now owns 222,922 shares of the utilities provider’s stock valued at $2,898,000 after buying an additional 136,091 shares during the last quarter. Finally, XP Advisory US Inc. acquired a new stake in Telecom Argentina Stet – France Telecom during the second quarter worth about $82,000.

About Telecom Argentina Stet – France Telecom

Telecom Argentina SA is a telecommunications and digital-services company serving residential, business and government customers primarily in Argentina. Its offerings include mobile voice and data services, fixed-line telephony, broadband internet, data transmission and other connectivity solutions.

The company also provides pay television and digital entertainment through its Flow platform, along with information and communications technology services for businesses, including cloud, cybersecurity, data-center and managed connectivity solutions.