233,278 Shares in Telecom Argentina Stet - France Telecom S.A. $TEO Bought by ABS Direct Equity Fund LLC

ABS Direct Equity Fund LLC bought a new stake in shares of Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 233,278 shares of the utilities provider's stock, valued at approximately $3,033,000. Telecom Argentina Stet - France Telecom comprises approximately 2.6% of ABS Direct Equity Fund LLC's investment portfolio, making the stock its 13th biggest holding. ABS Direct Equity Fund LLC owned 0.05% of Telecom Argentina Stet - France Telecom at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Engineers Gate Manager LP increased its holdings in shares of Telecom Argentina Stet - France Telecom by 105.6% during the 2nd quarter. Engineers Gate Manager LP now owns 86,936 shares of the utilities provider's stock worth $1,130,000 after purchasing an additional 44,647 shares during the period. Absolute Gestao de Investimentos Ltda. increased its stake in Telecom Argentina Stet - France Telecom by 156.7% during the second quarter. Absolute Gestao de Investimentos Ltda. now owns 222,922 shares of the utilities provider's stock valued at $2,898,000 after acquiring an additional 136,091 shares during the period. XP Advisory US Inc. acquired a new position in Telecom Argentina Stet - France Telecom in the 2nd quarter valued at approximately $82,000. SPX Gestao de Recursos Ltda bought a new stake in shares of Telecom Argentina Stet - France Telecom in the 1st quarter worth approximately $8,565,000. Finally, Y Intercept Hong Kong Ltd grew its holdings in shares of Telecom Argentina Stet - France Telecom by 8.3% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 21,330 shares of the utilities provider's stock worth $249,000 after purchasing an additional 1,628 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TEO. Weiss Ratings downgraded shares of Telecom Argentina Stet - France Telecom from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, August 31st. Wall Street Zen downgraded shares of Telecom Argentina Stet - France Telecom from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. 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 report on Wednesday, May 27th. UBS Group decreased their target price on shares of Telecom Argentina Stet - France Telecom from $18.00 to $16.50 and set a "buy" rating on the stock in a research report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of Telecom Argentina Stet - France Telecom from $19.00 to $21.00 and gave the company an "overweight" rating in a research note on Friday, September 4th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $15.93.

Insider Activity

In related news, Director Baruki Luis Alberto Gonzalez sold 188,500 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $2.78, for a total transaction of $524,030.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Telecom Argentina Stet - France Telecom Stock Performance

Telecom Argentina Stet - France Telecom stock opened at $13.54 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.58 and a quick ratio of 0.55. The stock has a fifty day moving average price of $13.42 and a two-hundred day moving average price of $12.67. Telecom Argentina Stet - France Telecom S.A. has a 52-week low of $6.43 and a 52-week high of $16.34. The firm has a market capitalization of $5.83 billion, a P/E ratio of 11.01 and a beta of 1.33.

Telecom Argentina Stet - France Telecom Company Profile

Telecom Argentina SA, formerly known as Telecom Argentina STET-France Telecom, is a telecommunications company serving consumers, businesses and public-sector organizations primarily in Argentina. The company provides mobile and fixed-line voice services, broadband internet access, data connectivity and other communications solutions.

Its consumer brands include Personal for mobile and broadband services and Flow for pay television, video streaming and related entertainment offerings. Telecom Argentina also provides information and communications technology services to corporate and institutional customers, including connectivity, data transmission, cloud, cybersecurity and other digital solutions.

The company was established following Argentina's telecommunications privatization in the early 1990s, with STET and France Télécom initially participating in its ownership.

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