Goldman Sachs Group Inc. Reduces Stock Holdings in Telecom Argentina Stet - France Telecom S.A. $TEO

Key Points

• Goldman Sachs Group Inc. reduced its stock holdings in Telecom Argentina Stet - France Telecom by 79.6% during the first quarter, leaving it with 10,380 shares valued at approximately $106,000.
• Other institutional investors, such as Bank of America and GAMMA Investing LLC, significantly increased their stakes, with GAMMA's holdings rising by 900.3% in the same quarter.
• Telecom Argentina's stock is currently rated as a "Hold" by analysts, with a consensus average target price of $10.23, following an upgrade from Scotiabank to "sector perform."

Goldman Sachs Group Inc. cut its holdings in shares of Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Free Report) by 79.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,380 shares of the utilities provider's stock after selling 40,539 shares during the quarter. Goldman Sachs Group Inc.'s holdings in Telecom Argentina Stet - France Telecom were worth $106,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bank of America Corp DE increased its holdings in shares of Telecom Argentina Stet - France Telecom by 87.0% in the 4th quarter. Bank of America Corp DE now owns 20,684 shares of the utilities provider's stock valued at $260,000 after acquiring an additional 9,621 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Telecom Argentina Stet - France Telecom by 900.3% in the 1st quarter. GAMMA Investing LLC now owns 39,181 shares of the utilities provider's stock valued at $3,845,000 after acquiring an additional 35,264 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Telecom Argentina Stet - France Telecom in the 1st quarter valued at approximately $271,000. Invesco Ltd. increased its holdings in shares of Telecom Argentina Stet - France Telecom by 19.8% in the 1st quarter. Invesco Ltd. now owns 56,029 shares of the utilities provider's stock valued at $571,000 after acquiring an additional 9,243 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Telecom Argentina Stet - France Telecom during the 1st quarter valued at approximately $119,000.

Telecom Argentina Stet - France Telecom Trading Down 0.5%

Shares of TEO stock opened at $7.37 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.39 and a current ratio of 0.43. Telecom Argentina Stet - France Telecom S.A. has a 1 year low of $6.43 and a 1 year high of $15.53. The stock has a fifty day moving average of $8.64 and a two-hundred day moving average of $9.46. The firm has a market capitalization of $3.18 billion, a PE ratio of -245.72 and a beta of 1.34.

Wall Street Analyst Weigh In

Separately, Scotiabank upgraded Telecom Argentina Stet - France Telecom from a "sector underperform" rating to a "sector perform" rating and boosted their price objective for the company from $4.50 to $8.20 in a research report on Monday, September 8th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Telecom Argentina Stet - France Telecom currently has a consensus rating of "Hold" and an average target price of $10.23.

Telecom Argentina Stet - France Telecom Profile

Telecom Argentina SA, together with its subsidiaries, provides telecommunications services. The company offers mobile telecommunications services, including voice communications, high-speed mobile Internet content and applications download, online streaming, and other services; and sells mobile communication devices, such as handsets, Modems MiFi and wingles, and smart watches.

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