Discerene Group LP Reduces Stake in Telecom Argentina Stet – France Telecom S.A. $TEO

Discerene Group LP lowered its position in Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) by 15.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 414,244 shares of the utilities provider’s stock after selling 73,615 shares during the period. Telecom Argentina Stet – France Telecom comprises about 0.5% of Discerene Group LP’s investment portfolio, making the stock its 11th biggest holding. Discerene Group LP owned 0.10% of Telecom Argentina Stet – France Telecom worth $4,843,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp purchased a new position in Telecom Argentina Stet – France Telecom in the third quarter worth about $43,000. EFG International AG bought a new stake in shares of Telecom Argentina Stet – France Telecom during the 4th quarter valued at about $58,000. Qube Research & Technologies Ltd purchased a new stake in shares of Telecom Argentina Stet – France Telecom during the 3rd quarter valued at about $98,000. Engineers Gate Manager LP bought a new position in shares of Telecom Argentina Stet – France Telecom in the 2nd quarter worth approximately $110,000. Finally, Hsbc Holdings PLC bought a new position in shares of Telecom Argentina Stet – France Telecom in the 4th quarter worth approximately $171,000.

Insider Activity at Telecom Argentina Stet – France Telecom

In other news, Director Alejandro Alberto Urricelqui acquired 38,890 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average cost of $13.43 per share, for a total transaction of $522,292.70. Following the transaction, the director directly owned 399,348 shares of the company’s stock, valued at approximately $5,363,243.64. This trade represents a 10.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

Telecom Argentina Stet – France Telecom Price Performance

NYSE TEO opened at $13.66 on Friday. Telecom Argentina Stet – France Telecom S.A. has a 12 month low of $6.43 and a 12 month high of $16.34. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 26.78 and a beta of 1.35. The company’s 50 day moving average is $13.39 and its two-hundred day moving average is $12.29. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.51.

Analysts Set New Price Targets

Several brokerages recently issued reports on TEO. Wall Street Zen upgraded shares of Telecom Argentina Stet – France Telecom from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. Weiss Ratings upgraded shares of Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Morgan Stanley upgraded shares of Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $13.00 to $17.00 in a research note on Wednesday, June 24th. Zacks Research downgraded shares of Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Scotiabank upped their price objective on 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. Three investment 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. According to MarketBeat.com, the company 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.