SPX Gestao de Recursos Ltda Purchases New Position in Telecom Argentina Stet - France Telecom S.A. $TEO

Key Points

• SPX Gestao de Recursos Ltda opened a new position in Telecom Argentina Stet - France Telecom during the first quarter, buying 732,697 shares worth about $8.6 million. The stake represented roughly 0.7% of its portfolio and about 0.17% of the company.
• Other institutional investors have also been active in the stock, including RWC Asset Management, Sagil Capital, UBS Group, and Two Sigma, several of which increased holdings or initiated new positions.
• Analyst sentiment is mixed but improved somewhat, with Morgan Stanley upgrading the stock to overweight and raising its target to $17. Overall, the stock carries a Hold consensus rating and a $15.55 average price target.

SPX Gestao de Recursos Ltda acquired a new position in Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 732,697 shares of the utilities provider's stock, valued at approximately $8,565,000. Telecom Argentina Stet - France Telecom makes up about 0.7% of SPX Gestao de Recursos Ltda's investment portfolio, making the stock its 27th biggest holding. SPX Gestao de Recursos Ltda owned approximately 0.17% of Telecom Argentina Stet - France Telecom as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. RWC Asset Management LLP raised its position in Telecom Argentina Stet - France Telecom by 50.7% during the 4th quarter. RWC Asset Management LLP now owns 1,009,244 shares of the utilities provider's stock valued at $11,717,000 after purchasing an additional 339,416 shares in the last quarter. Sagil Capital LLP bought a new position in Telecom Argentina Stet - France Telecom during the 4th quarter worth about $7,629,000. Banco BTG Pactual S.A. purchased a new position in Telecom Argentina Stet - France Telecom during the 3rd quarter valued at about $2,725,000. UBS Group AG increased its position in Telecom Argentina Stet - France Telecom by 25.7% during the 4th quarter. UBS Group AG now owns 293,659 shares of the utilities provider's stock valued at $3,409,000 after purchasing an additional 60,033 shares during the period. Finally, Two Sigma Investments LP raised its holdings in shares of Telecom Argentina Stet - France Telecom by 317.8% in the 3rd quarter. Two Sigma Investments LP now owns 204,172 shares of the utilities provider's stock valued at $1,484,000 after purchasing an additional 155,299 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley raised Telecom Argentina Stet - France Telecom from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $13.00 to $17.00 in a research report on Wednesday, June 24th. Scotiabank boosted their target price on shares of 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. Weiss Ratings raised shares of Telecom Argentina Stet - France Telecom from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 4th. Zacks Research downgraded shares of Telecom Argentina Stet - France Telecom from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Finally, Wall Street Zen raised shares of Telecom Argentina Stet - France Telecom from a "buy" rating to a "strong-buy" rating in a report on Saturday. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $15.55.

Telecom Argentina Stet - France Telecom Stock Performance

Shares of TEO stock opened at $13.12 on Friday. The business has a fifty day moving average of $13.21 and a 200 day moving average of $12.22. Telecom Argentina Stet - France Telecom S.A. has a 1 year low of $6.43 and a 1 year high of $16.34. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.58 and a quick ratio of 0.56. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 25.72 and a beta of 1.35.

Insider Buying and Selling

In other Telecom Argentina Stet - France Telecom news, Director Alejandro Alberto Urricelqui purchased 38,890 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The shares were bought at an average price of $13.43 per share, for a total transaction of $522,292.70. Following the acquisition, the director owned 399,348 shares in the company, valued at $5,363,243.64. This represents a 10.79% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate 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.

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