Telecom Argentina Stet - France Telecom S.A. $TEO Shares Sold by Fourth Sail Capital LP

Key Points

• Fourth Sail Capital LP sharply reduced its Telecom Argentina Stet - France Telecom stake by 72.2% in the fourth quarter, selling 1.18 million shares and ending with 453,402 shares valued at about $5.26 million.
• Several analysts turned more positive on TEO, including upgrades from Weiss Ratings, Zacks Research, and Wall Street Zen; the stock now has a Moderate Buy consensus with a $15.07 price target.
• Director Alejandro Alberto Urricelqui bought 38,890 shares at $13.43 each, increasing his holdings by 10.79%, while the stock recently traded near its 52-week high at $15.24.

Fourth Sail Capital LP cut its stake in Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Free Report) by 72.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 453,402 shares of the utilities provider's stock after selling 1,178,820 shares during the quarter. Telecom Argentina Stet - France Telecom makes up approximately 0.8% of Fourth Sail Capital LP's investment portfolio, making the stock its 29th largest position. Fourth Sail Capital LP owned approximately 0.11% of Telecom Argentina Stet - France Telecom worth $5,264,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TEO. Acadian Asset Management LLC acquired a new position in shares of Telecom Argentina Stet - France Telecom during the 1st quarter worth approximately $379,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Telecom Argentina Stet - France Telecom by 321.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 104,726 shares of the utilities provider's stock worth $925,000 after buying an additional 79,893 shares during the period. Marshall Wace LLP acquired a new position in shares of Telecom Argentina Stet - France Telecom during the 2nd quarter worth approximately $346,000. Jump Financial LLC acquired a new position in shares of Telecom Argentina Stet - France Telecom during the 2nd quarter worth approximately $596,000. Finally, Jane Street Group LLC acquired a new position in shares of Telecom Argentina Stet - France Telecom during the 2nd quarter worth approximately $578,000.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Weiss Ratings upgraded 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 upgraded Telecom Argentina Stet - France Telecom from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. Scotiabank boosted their price target on Telecom Argentina Stet - France Telecom from $8.60 to $9.20 and gave the stock a "sector underperform" rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. boosted their price target on Telecom Argentina Stet - France Telecom from $16.00 to $19.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 9th. Finally, Wall Street Zen upgraded Telecom Argentina Stet - France Telecom from a "hold" rating to a "buy" rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $15.07.

Telecom Argentina Stet - France Telecom Stock Performance

NYSE TEO opened at $15.24 on Friday. The stock has a market cap of $6.56 billion, a PE ratio of 29.88 and a beta of 1.32. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.51. Telecom Argentina Stet - France Telecom S.A. has a twelve month low of $6.43 and a twelve month high of $16.34. The stock has a fifty day simple moving average of $12.41 and a 200-day simple moving average of $11.96.

Telecom Argentina Stet - France Telecom (NYSE:TEO - Get Free Report) last released its quarterly earnings results on Tuesday, February 10th. The utilities provider reported $0.02 earnings per share 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%. Equities analysts anticipate that Telecom Argentina Stet - France Telecom S.A. will post 1.41 earnings per share for the current year.

Insider Buying and Selling at Telecom Argentina Stet - France Telecom

In other Telecom Argentina Stet - France Telecom news, Director Alejandro Alberto Urricelqui purchased 38,890 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was acquired at an average cost 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 trade represents a 10.79% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company's stock.

About Telecom Argentina Stet - France Telecom

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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