Verde Servicos Internacionais S.A. Buys Shares of 60,000 Telecom Argentina Stet – France Telecom S.A. $TEO

Verde Servicos Internacionais S.A. purchased a new position in shares of Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,000 shares of the utilities provider’s stock, valued at approximately $701,000.

Several other institutional investors also recently modified their holdings of TEO. Acadian Asset Management LLC acquired a new stake in shares of Telecom Argentina Stet – France Telecom during the 1st quarter valued at $379,000. Arrowstreet Capital Limited Partnership raised its position in Telecom Argentina Stet – France Telecom by 321.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 104,726 shares of the utilities provider’s stock valued at $925,000 after purchasing an additional 79,893 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Telecom Argentina Stet – France Telecom during the second quarter valued at about $346,000. Jump Financial LLC acquired a new stake in shares of Telecom Argentina Stet – France Telecom during the second quarter valued at about $596,000. Finally, Jane Street Group LLC bought a new stake in shares of Telecom Argentina Stet – France Telecom during the second quarter worth about $578,000.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TEO shares. Weiss Ratings raised Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Scotiabank boosted their target price on shares of Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the stock a “sector underperform” rating in a report on Wednesday, May 27th. Wall Street Zen upgraded shares of Telecom Argentina Stet – France Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Zacks Research upgraded shares of Telecom Argentina Stet – France Telecom from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.07.

Insider Buying and Selling

In other Telecom Argentina Stet – France Telecom news, Director Alejandro Alberto Urricelqui bought 38,890 shares of the stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average cost of $13.43 per share, for a total transaction of $522,292.70. Following the completion of the acquisition, the director owned 399,348 shares in the company, valued at $5,363,243.64. This trade represents a 10.79% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Telecom Argentina Stet – France Telecom Stock Performance

Shares of TEO opened at $13.01 on Wednesday. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $5.60 billion, a P/E ratio of 25.51 and a beta of 1.32. The firm’s fifty day simple moving average is $12.75 and its two-hundred day simple moving average is $12.05. Telecom Argentina Stet – France Telecom S.A. has a 12 month low of $6.43 and a 12 month high of $16.34.

Telecom Argentina Stet – France Telecom (NYSE:TEO) last issued its quarterly earnings results on Tuesday, February 10th. The utilities provider reported $0.02 earnings per share for the quarter. The firm had revenue of $1.35 billion during the quarter. Telecom Argentina Stet – France Telecom had a return on equity of 4.05% and a net margin of 3.33%. As a group, analysts predict that Telecom Argentina Stet – France Telecom S.A. will post 1.65 EPS for the current year.

About Telecom Argentina Stet – France Telecom

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.