MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stake in Telecom Argentina Stet - France Telecom S.A. $TEO

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. raised its position in shares of Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Free Report) by 6.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,479,872 shares of the utilities provider's stock after buying an additional 152,837 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.58% of Telecom Argentina Stet - France Telecom worth $25,270,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Telecom Argentina Stet - France Telecom during the first quarter valued at about $329,000. Hsbc Holdings PLC acquired a new position in shares of Telecom Argentina Stet - France Telecom during the first quarter valued at about $119,000. Invesco Ltd. increased its holdings in shares of Telecom Argentina Stet - France Telecom by 19.8% during the first 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 in the last quarter. Cetera Investment Advisers acquired a new position in shares of Telecom Argentina Stet - France Telecom during the first quarter valued at about $271,000. Finally, GAMMA Investing LLC increased its holdings in shares of Telecom Argentina Stet - France Telecom by 900.3% during the first 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 in the last quarter.

Telecom Argentina Stet - France Telecom Price Performance

Shares of NYSE:TEO traded down $0.34 during midday trading on Friday, reaching $7.08. 365,402 shares of the company's stock traded hands, compared to its average volume of 257,975. Telecom Argentina Stet - France Telecom S.A. has a 1 year low of $6.95 and a 1 year high of $15.53. The company has a market cap of $3.05 billion, a P/E ratio of -235.92 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. The company has a fifty day simple moving average of $8.99 and a two-hundred day simple moving average of $9.77.

Analyst Ratings Changes

Separately, Scotiabank upgraded shares of Telecom Argentina Stet - France Telecom from a "sector underperform" rating to a "sector perform" rating and upped their price objective for the company from $4.50 to $8.20 in a report on Monday, September 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently 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.