Absolute Gestao de Investimentos Ltda. Purchases 136,091 Shares of Telecom Argentina Stet - France Telecom S.A. $TEO

Absolute Gestao de Investimentos Ltda. raised its position in Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Free Report) by 156.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 222,922 shares of the utilities provider's stock after acquiring an additional 136,091 shares during the period. Telecom Argentina Stet - France Telecom makes up about 0.3% of Absolute Gestao de Investimentos Ltda.'s holdings, making the stock its 23rd largest position. Absolute Gestao de Investimentos Ltda. owned 0.05% of Telecom Argentina Stet - France Telecom worth $2,898,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sagil Capital LLP acquired a new position in Telecom Argentina Stet - France Telecom during the 4th quarter valued at about $7,629,000. RWC Asset Management LLP raised its stake in shares of Telecom Argentina Stet - France Telecom by 50.7% in the fourth quarter. RWC Asset Management LLP now owns 1,009,244 shares of the utilities provider's stock worth $11,717,000 after purchasing an additional 339,416 shares during the last quarter. Verde Servicos Internacionais S.A. purchased a new stake in shares of Telecom Argentina Stet - France Telecom in the first quarter worth approximately $701,000. SPX Gestao de Recursos Ltda bought a new position in shares of Telecom Argentina Stet - France Telecom in the first quarter valued at approximately $8,565,000. Finally, Pictet Asset Management Holding SA bought a new position in shares of Telecom Argentina Stet - France Telecom in the first quarter valued at approximately $561,000.

Analysts Set New Price Targets

TEO has been the subject of several recent research reports. Scotiabank upped their price target on 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. Morgan Stanley raised shares of Telecom Argentina Stet - France Telecom from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $13.00 to $17.00 in a report on Wednesday, June 24th. UBS Group cut their price objective on shares of Telecom Argentina Stet - France Telecom from $18.00 to $16.50 and set a "buy" rating on the stock in a report on Wednesday, August 12th. Zacks Research lowered shares of Telecom Argentina Stet - France Telecom from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Finally, 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. Three investment 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 data from MarketBeat.com, Telecom Argentina Stet - France Telecom has a consensus rating of "Hold" and a consensus target price of $15.93.

Insider Activity

In other Telecom Argentina Stet - France Telecom news, Director Baruki Luis Alberto Gonzalez sold 188,500 shares of the firm's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $2.78, for a total value of $524,030.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company's stock.

Telecom Argentina Stet - France Telecom Stock Performance

NYSE:TEO opened at $13.03 on Monday. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $5.61 billion, a PE ratio of 10.59 and a beta of 1.33. The firm's 50 day moving average is $13.39 and its 200 day moving average is $12.62. 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 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.

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