Naviter Wealth LLC Buys 56,094 Shares of Telefonica SA $TEF

Key Points

• Naviter Wealth LLC has increased its stake in Telefonica SA by 207.8%, acquiring an additional 56,094 shares, bringing its total holdings to 83,094 shares valued at approximately $440,000.
• Several hedge funds, including Goldman Sachs and Mainstay Capital Management, have also significantly increased their positions in Telefonica, indicating growing institutional interest in the stock.
• Wall Street analysts have assigned mixed ratings on Telefonica, with some upgrades to "hold" but an overall average rating of "Reduce," reflecting cautious sentiment about the stock's performance.

Naviter Wealth LLC boosted its stake in shares of Telefonica SA (NYSE:TEF - Free Report) by 207.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 83,094 shares of the utilities provider's stock after acquiring an additional 56,094 shares during the quarter. Naviter Wealth LLC's holdings in Telefonica were worth $440,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TEF. Goldman Sachs Group Inc. grew its holdings in Telefonica by 20.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,243,236 shares of the utilities provider's stock worth $29,093,000 after acquiring an additional 1,065,861 shares during the last quarter. Mainstay Capital Management LLC ADV grew its holdings in Telefonica by 99.5% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 780,285 shares of the utilities provider's stock worth $4,081,000 after acquiring an additional 389,242 shares during the last quarter. Cerity Partners LLC grew its holdings in Telefonica by 65.0% during the 1st quarter. Cerity Partners LLC now owns 454,853 shares of the utilities provider's stock worth $2,120,000 after acquiring an additional 179,119 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in Telefonica by 340.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 206,150 shares of the utilities provider's stock worth $961,000 after acquiring an additional 159,319 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in Telefonica by 83.7% during the 1st quarter. Jane Street Group LLC now owns 292,957 shares of the utilities provider's stock worth $1,365,000 after acquiring an additional 133,509 shares during the last quarter. Institutional investors own 1.14% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TEF shares. Berenberg Bank raised shares of Telefonica to a "hold" rating in a report on Thursday, June 26th. Weiss Ratings restated a "sell (d)" rating on shares of Telefonica in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Reduce".

Telefonica Stock Performance

Telefonica stock opened at $5.05 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 1.47. Telefonica SA has a 1 year low of $3.89 and a 1 year high of $5.72. The company has a market cap of $28.61 billion, a PE ratio of -10.51, a PEG ratio of 0.56 and a beta of 0.49. The company's 50-day moving average is $5.28 and its two-hundred day moving average is $5.15.

Telefonica (NYSE:TEF - Get Free Report) last released its earnings results on Wednesday, July 30th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.08. Telefonica had a negative net margin of 5.88% and a positive return on equity of 8.57%. The company had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $9.03 billion. Equities analysts anticipate that Telefonica SA will post 0.3 earnings per share for the current year.

Telefonica Company Profile

Telefónica, SA, together with its subsidiaries, provides telecommunications services in Europe and Latin America. The company offers mobile and related services and products, such as mobile voice, value added, mobile data and internet, wholesale, corporate, roaming, fixed wireless, and trunking and paging services.

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