Telecom Argentina Stet - France Telecom S.A. $TEO Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Telecom Argentina Stet - France Telecom S.A. by 6.6%, owning approximately 0.58% of the company valued at $25.27 million.
• Several other institutional investors, including Invesco Ltd. and GAMMA Investing LLC, also raised their stakes significantly during the first quarter.
• Wall Street analysts maintain a cautious outlook on the stock, with an average rating of "Reduce" and a consensus price target of $10.23.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Free Report) by 6.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,479,872 shares of the utilities provider's stock after purchasing an additional 152,837 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.58% of Telecom Argentina Stet - France Telecom worth $25,270,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Telecom Argentina Stet - France Telecom by 900.3% during the 1st quarter. GAMMA Investing LLC now owns 39,181 shares of the utilities provider's stock worth $3,845,000 after purchasing an additional 35,264 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Telecom Argentina Stet - France Telecom by 87.0% during the 4th quarter. Bank of America Corp DE now owns 20,684 shares of the utilities provider's stock worth $260,000 after purchasing an additional 9,621 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of Telecom Argentina Stet - France Telecom during the 1st quarter worth approximately $271,000. Hsbc Holdings PLC purchased a new position in shares of Telecom Argentina Stet - France Telecom during the 1st quarter worth approximately $119,000. Finally, Invesco Ltd. increased its stake in shares of Telecom Argentina Stet - France Telecom by 19.8% during the 1st quarter. Invesco Ltd. now owns 56,029 shares of the utilities provider's stock worth $571,000 after purchasing an additional 9,243 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Telecom Argentina Stet - France Telecom Trading Down 2.2%

NYSE TEO traded down $0.17 during mid-day trading on Thursday, reaching $7.40. 225,881 shares of the stock were exchanged, compared to its average volume of 211,188. Telecom Argentina Stet - France Telecom S.A. has a 1-year low of $7.14 and a 1-year high of $15.53. The business's fifty day simple moving average is $9.06 and its 200 day simple moving average is $9.85. The stock has a market capitalization of $3.19 billion, a PE ratio of -246.42 and a beta of 1.34. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.39 and a current ratio of 0.43.

About Telecom Argentina Stet - France Telecom

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.