Telecom Argentina Stet - France Telecom S.A. $TEO Shares Acquired by RWC Asset Management LLP

Key Points

• RWC Asset Management LLP boosted its stake in Telecom Argentina Stet - France Telecom by 50.7% in the fourth quarter, buying 339,416 additional shares for a total of 1,009,244 shares worth about $11.7 million.
• Several other institutions also increased exposure, including UBS Group, Two Sigma Investments, Goldman Sachs, and BNP Paribas, while Banco BTG Pactual took a new position in the company.
• Analyst sentiment has improved overall: JPMorgan upgraded TEO to overweight and raised its target to $16, while the stock currently has a consensus Moderate Buy rating with an average target price of $14.07.

RWC Asset Management LLP increased its position in Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Free Report) by 50.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,009,244 shares of the utilities provider's stock after buying an additional 339,416 shares during the quarter. RWC Asset Management LLP owned about 0.23% of Telecom Argentina Stet - France Telecom worth $11,717,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Banco BTG Pactual S.A. acquired a new stake in shares of Telecom Argentina Stet - France Telecom in the third quarter valued at $2,725,000. UBS Group AG lifted its holdings in shares of Telecom Argentina Stet - France Telecom by 25.7% in the fourth quarter. UBS Group AG now owns 293,659 shares of the utilities provider's stock valued at $3,409,000 after buying an additional 60,033 shares during the period. Two Sigma Investments LP lifted its holdings in shares of Telecom Argentina Stet - France Telecom by 317.8% in the third quarter. Two Sigma Investments LP now owns 204,172 shares of the utilities provider's stock valued at $1,484,000 after buying an additional 155,299 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Telecom Argentina Stet - France Telecom by 80.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 151,425 shares of the utilities provider's stock valued at $1,758,000 after buying an additional 67,459 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Telecom Argentina Stet - France Telecom by 34.2% in the second quarter. BNP Paribas Financial Markets now owns 149,672 shares of the utilities provider's stock valued at $1,322,000 after buying an additional 38,107 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TEO. Weiss Ratings raised Telecom Argentina Stet - France Telecom from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday. Zacks Research raised Telecom Argentina Stet - France Telecom from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. raised Telecom Argentina Stet - France Telecom from a "neutral" rating to an "overweight" rating and upped their target price for the company from $12.00 to $16.00 in a report on Wednesday, April 29th. Finally, Scotiabank upped their target price on Telecom Argentina Stet - France Telecom from $8.60 to $9.20 and gave the company a "sector underperform" rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $14.07.

Insiders Place Their Bets

In other Telecom Argentina Stet - France Telecom news, Director Alejandro Alberto Urricelqui purchased 38,890 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were purchased at an average cost of $13.43 per share, with a total value of $522,292.70. Following the completion of the transaction, the director owned 399,348 shares of the company's stock, valued at approximately $5,363,243.64. This represents a 10.79% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company's stock.

Telecom Argentina Stet - France Telecom Trading Down 0.0%

Shares of NYSE TEO opened at $13.24 on Monday. Telecom Argentina Stet - France Telecom S.A. has a 12 month low of $6.43 and a 12 month high of $15.25. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 25.95 and a beta of 1.32. The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $12.10 and a 200-day simple moving average of $11.88.

Telecom Argentina Stet - France Telecom (NYSE:TEO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The utilities provider reported $0.02 earnings per share for the quarter. The firm had revenue of $1.35 billion for the quarter. Telecom Argentina Stet - France Telecom had a return on equity of 4.05% and a net margin of 3.33%. Sell-side analysts predict that Telecom Argentina Stet - France Telecom S.A. will post 1.41 EPS for the current year.

Telecom Argentina Stet - France Telecom Company 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.