Artemis Investment Management LLP Buys New Position in Telecom Argentina Stet - France Telecom S.A. $TEO

Key Points

• Artemis Investment Management acquired 930,892 shares of Telecom Argentina, valued at approximately $11.4 million, representing a 0.22% stake.
• Director Baruki Luis Alberto Gonzalez sold 188,500 shares for about $524,000; insiders collectively own 1% of the company.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $15.93, compared with shares trading near $12.80.

Artemis Investment Management LLP bought a new stake in Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 930,892 shares of the utilities provider's stock, valued at approximately $11,422,000. Artemis Investment Management LLP owned 0.22% of Telecom Argentina Stet - France Telecom as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. XP Advisory US Inc. purchased a new position in Telecom Argentina Stet - France Telecom during the 2nd quarter valued at about $82,000. Y Intercept Hong Kong Ltd grew its stake in shares of Telecom Argentina Stet - France Telecom by 8.3% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 21,330 shares of the utilities provider's stock worth $249,000 after buying an additional 1,628 shares during the last quarter. Pictet Asset Management Holding SA bought a new position in Telecom Argentina Stet - France Telecom during the 1st quarter valued at approximately $561,000. Verde Servicos Internacionais S.A. bought a new position in Telecom Argentina Stet - France Telecom during the 1st quarter valued at approximately $701,000. Finally, Absolute Gestao de Investimentos Ltda. purchased a new position in Telecom Argentina Stet - France Telecom during the first quarter valued at $1,015,000.

Insiders Place Their Bets

In other Telecom Argentina Stet - France Telecom news, Director Baruki Luis Alberto Gonzalez sold 188,500 shares of the business's stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company's stock.

Telecom Argentina Stet - France Telecom Stock Performance

Shares of NYSE TEO opened at $12.80 on Friday. The firm's 50-day moving average price is $13.27 and its 200-day moving average price is $12.91. Telecom Argentina Stet - France Telecom S.A. has a 52-week low of $7.07 and a 52-week high of $16.34. The company has a market cap of $5.52 billion, a PE ratio of 10.41 and a beta of 1.35. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.50.

Wall Street Analyst Weigh In

Several research firms have commented on TEO. Weiss Ratings downgraded Telecom Argentina Stet - France Telecom from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, October 2nd. Wall Street Zen downgraded Telecom Argentina Stet - France Telecom from a "buy" rating to a "hold" rating in a report on Sunday, September 20th. UBS Group lowered 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. Zacks Research cut 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, Morgan Stanley raised shares of Telecom Argentina Stet - France Telecom from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $13.00 to $17.00 in a research report on Wednesday, June 24th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $15.93.

About Telecom Argentina Stet - France Telecom

Telecom Argentina SA, formerly known as Telecom Argentina Stet-France Telecom SA, is an Argentine telecommunications company that provides connectivity and communications services to consumers, businesses and government organizations. Its operations include fixed-line and mobile voice services, broadband internet, data transmission, digital communications and information technology solutions.

The company markets consumer services under brands including Personal, which provides mobile and broadband services, and Flow, its entertainment and pay-TV platform.

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