Sagil Capital LLP Takes $7.63 Million Position in Telecom Argentina Stet - France Telecom S.A. $TEO

Key Points

• Sagil Capital LLP disclosed a new fourth-quarter stake in Telecom Argentina Stet - France Telecom, buying 657,097 shares valued at about $7.63 million. The position makes TEO its 8th-largest holding and about 1.7% of its portfolio.
• Several analysts recently updated their views on the stock, with JPMorgan raising its price target to $19.00 and Zacks Research upgrading the shares to strong-buy. The consensus rating is currently Moderate Buy with an average target of $15.07.
• The stock has been trading near its 12-month high, opening at $15.97 versus a year low of $6.43, while the company reported $0.02 EPS and $1.35 billion in quarterly revenue in its latest earnings release.

Sagil Capital LLP bought a new stake in shares of Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 657,097 shares of the utilities provider's stock, valued at approximately $7,629,000. Telecom Argentina Stet - France Telecom comprises approximately 1.7% of Sagil Capital LLP's investment portfolio, making the stock its 8th biggest holding. Sagil Capital LLP owned approximately 0.15% of Telecom Argentina Stet - France Telecom as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in TEO. Van ECK Associates Corp bought a new position in shares of Telecom Argentina Stet - France Telecom during the third quarter valued at approximately $43,000. Qube Research & Technologies Ltd bought a new position in shares of Telecom Argentina Stet - France Telecom during the third quarter valued at approximately $98,000. Engineers Gate Manager LP bought a new position in shares of Telecom Argentina Stet - France Telecom during the second quarter valued at approximately $110,000. Bank of America Corp DE grew its holdings in shares of Telecom Argentina Stet - France Telecom by 21.3% during the second quarter. Bank of America Corp DE now owns 26,872 shares of the utilities provider's stock valued at $237,000 after purchasing an additional 4,714 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Telecom Argentina Stet - France Telecom during the second quarter valued at approximately $346,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TEO shares. Zacks Research raised Telecom Argentina Stet - France Telecom from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 13th. Scotiabank increased their price objective on Telecom Argentina Stet - France Telecom from $8.60 to $9.20 and gave the stock a "sector underperform" rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. increased their price objective on Telecom Argentina Stet - France Telecom from $16.00 to $19.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, Weiss Ratings raised Telecom Argentina Stet - France Telecom from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $15.07.

Telecom Argentina Stet - France Telecom Stock Performance

Shares of TEO stock opened at $15.97 on Friday. Telecom Argentina Stet - France Telecom S.A. has a 12-month low of $6.43 and a 12-month high of $16.25. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of 31.30 and a beta of 1.32. The business has a 50 day simple moving average of $12.34 and a 200 day simple moving average of $11.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.58 and a quick ratio of 0.56.

Telecom Argentina Stet - France Telecom (NYSE:TEO - Get Free Report) last issued its quarterly earnings data on Tuesday, February 10th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $1.35 billion during the quarter. Telecom Argentina Stet - France Telecom had a return on equity of 4.05% and a net margin of 3.33%. On average, equities research analysts anticipate that Telecom Argentina Stet - France Telecom S.A. will post 1.41 EPS for the current year.

Insiders Place Their Bets

In other news, Director Alejandro Alberto Urricelqui bought 38,890 shares of the business's stock in a transaction on Tuesday, June 2nd. The stock was purchased at an average cost of $13.43 per share, for a total transaction of $522,292.70. Following the completion of the transaction, the director directly owned 399,348 shares of the company's stock, valued at approximately $5,363,243.64. This trade represents a 10.79% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Telecom Argentina Stet - France Telecom Profile

Telecom Argentina Stet – France Telecom NYSE: TEO is an integrated telecommunications provider based in Buenos Aires, Argentina. Originally formed through the 1990 privatization of the state-owned Empresa Nacional de Telecomunicaciones (ENTel), the company was initially backed by Italian state carrier STET and French operator France Télécom. Since its listing on the New York Stock Exchange under the ticker TEO, Telecom Argentina has evolved into one of the country's principal communications groups, offering a comprehensive portfolio of voice and data services.

The company's core business activities span fixed-line telephony, mobile services, broadband internet and digital television.

Want to see what other hedge funds are holding TEO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.