RWC Asset Management LLP Sells 264,093 Shares of Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO)

Key Points

• RWC Asset Management LLP has reduced its stake in Telecom Argentina Stet - France Telecom by 28.4%, selling 264,093 shares in the first quarter and now holding 667,445 shares valued at $6.8 million.
• Goldman Sachs raised its price target on Telecom Argentina Stet from $8.30 to $9.50, while maintaining a "sell" rating, alongside Scotiabank's reaffirmation of an "underperform" rating for the stock.
• Telecom Argentina reported quarterly earnings of $0.20 per share, surpassing analysts' expectations, with revenues reaching $1.29 billion, above the consensus estimate of $1.08 billion.

RWC Asset Management LLP reduced its stake in Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Free Report) by 28.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 667,445 shares of the utilities provider's stock after selling 264,093 shares during the period. RWC Asset Management LLP owned approximately 0.15% of Telecom Argentina Stet - France Telecom worth $6,801,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Cetera Investment Advisers purchased a new position in Telecom Argentina Stet - France Telecom during the first quarter worth about $271,000. GAMMA Investing LLC grew its position in 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 worth $3,845,000 after buying an additional 35,264 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Telecom Argentina Stet - France Telecom by 111.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,327,035 shares of the utilities provider's stock worth $29,297,000 after buying an additional 1,224,369 shares in the last quarter. Bosun Asset Management LLC purchased a new position in Telecom Argentina Stet - France Telecom during the fourth quarter worth about $1,031,000. Finally, Bank of America Corp DE grew its position in Telecom Argentina Stet - France Telecom by 87.0% during the fourth quarter. Bank of America Corp DE now owns 20,684 shares of the utilities provider's stock worth $260,000 after buying an additional 9,621 shares in the last quarter.

Telecom Argentina Stet - France Telecom Price Performance

TEO stock traded down $0.31 during mid-day trading on Thursday, hitting $9.19. 90,346 shares of the stock were exchanged, compared to its average volume of 206,459. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.48 and a quick ratio of 0.44. The business has a fifty day moving average price of $9.32 and a 200 day moving average price of $10.46. Telecom Argentina Stet - France Telecom S.A. has a 12 month low of $5.52 and a 12 month high of $15.53. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 19.17 and a beta of 1.17.

Telecom Argentina Stet - France Telecom (NYSE:TEO - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.44. Telecom Argentina Stet - France Telecom had a return on equity of 3.68% and a net margin of 4.52%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.08 billion. On average, sell-side analysts anticipate that Telecom Argentina Stet - France Telecom S.A. will post 1.28 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TEO shares. Scotiabank restated an "underperform" rating on shares of Telecom Argentina Stet - France Telecom in a research report on Thursday, May 15th. The Goldman Sachs Group boosted their target price on Telecom Argentina Stet - France Telecom from $8.30 to $9.50 and gave the stock a "sell" rating in a research report on Wednesday, April 23rd.

Telecom Argentina Stet - France Telecom Company 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.