Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO) Shares Sold by RWC Asset Advisors US LLC

Key Points

• RWC Asset Advisors US LLC has reduced its stake in Telecom Argentina Stet - France Telecom by 8.5%, now holding 763,829 shares worth approximately $7.78 million.
• Institutional interest has fluctuated, with MIRAE ASSET GLOBAL ETFS HOLDINGS increasing its position by 111%, owning over 2.3 million shares after a significant purchase.
• Analysts have adjusted their price targets, with Goldman Sachs raising it from $8.30 to $9.50 while maintaining a "sell" rating for the stock.

RWC Asset Advisors US LLC lowered its position in shares of Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Free Report) by 8.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 763,829 shares of the utilities provider's stock after selling 71,336 shares during the period. Telecom Argentina Stet - France Telecom comprises about 1.4% of RWC Asset Advisors US LLC's holdings, making the stock its 11th largest position. RWC Asset Advisors US LLC owned 0.18% of Telecom Argentina Stet - France Telecom worth $7,783,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 purchasing an additional 1,224,369 shares in the last quarter. Bosun Asset Management LLC acquired a new stake in shares of Telecom Argentina Stet - France Telecom during the fourth quarter worth about $1,031,000. Freedom Investment Management Inc. acquired a new stake in shares of Telecom Argentina Stet - France Telecom during the fourth quarter worth about $577,000. GAMMA Investing LLC increased its position 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 worth $3,845,000 after purchasing an additional 35,264 shares in the last quarter. Finally, Mariner LLC increased its position in shares of Telecom Argentina Stet - France Telecom by 8.1% during the fourth quarter. Mariner LLC now owns 32,792 shares of the utilities provider's stock worth $413,000 after purchasing an additional 2,467 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group raised their price target on Telecom Argentina Stet - France Telecom from $8.30 to $9.50 and gave the stock a "sell" rating in a report on Wednesday, April 23rd. Scotiabank reissued an "underperform" rating on shares of Telecom Argentina Stet - France Telecom in a report on Thursday, May 15th.

Telecom Argentina Stet - France Telecom Stock Performance

NYSE TEO opened at $9.44 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.48 and a debt-to-equity ratio of 0.48. Telecom Argentina Stet - France Telecom S.A. has a 52-week low of $5.52 and a 52-week high of $15.53. The business's 50-day moving average price is $9.42 and its 200 day moving average price is $10.52. The firm has a market cap of $4.06 billion, a P/E ratio of 19.66 and a beta of 1.17.

Telecom Argentina Stet - France Telecom (NYSE:TEO - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.08 billion. On average, equities research analysts expect that Telecom Argentina Stet - France Telecom S.A. will post 1.28 earnings per share for the current year.

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.

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