Telecom Argentina Stet - France Telecom (NYSE:TEO) Insider Martin Andres Heine Acquires 7,000 Shares of Company Stock

Key Points

• Insider Martin Andres Heine purchased 7,000 shares of Telecom Argentina at an average price of $2.67 per share, increasing his direct holdings by 20.29% to 41,500 shares.
• TEO shares opened at $12.28, with a 12-month range of $7.07 to $16.34 and a market capitalization of approximately $5.29 billion. Analysts’ consensus rating is “Hold,” with an average price target of $15.93.
• Several institutional investors recently initiated or expanded positions, including Artemis Investment Management, which acquired a stake valued at approximately $11.4 million, and Absolute Gestao de Investimentos, which increased its position by 156.7%.

Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Get Free Report) insider Martin Andres Heine bought 7,000 shares of the company's stock in a transaction on Friday, October 9th. The shares were acquired at an average price of $2.67 per share, with a total value of $18,690.00. Following the completion of the acquisition, the insider directly owned 41,500 shares in the company, valued at $110,805. This represents a 20.29% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Telecom Argentina Stet - France Telecom Stock Performance

Shares of TEO opened at $12.28 on Wednesday. Telecom Argentina Stet - France Telecom S.A. has a 12-month low of $7.07 and a 12-month high of $16.34. The stock has a market cap of $5.29 billion, a P/E ratio of 9.98 and a beta of 1.35. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average of $13.18 and a two-hundred day moving average of $12.93.

Analyst Upgrades and Downgrades

TEO has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their target price on Telecom Argentina Stet - France Telecom from $19.00 to $21.00 and gave the company an "overweight" rating in a report on Friday, September 4th. Morgan Stanley upgraded Telecom Argentina Stet - France Telecom from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $13.00 to $17.00 in a research report on Wednesday, June 24th. UBS Group decreased their price objective on Telecom Argentina Stet - France Telecom from $18.00 to $16.50 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. Zacks Research cut 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 downgraded shares of Telecom Argentina Stet - France Telecom from a "buy" rating to a "hold" rating in a research note on Sunday, September 20th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $15.93.

Institutional Investors Weigh In On Telecom Argentina Stet - France Telecom

Several hedge funds have recently made changes to their positions in the business. Artemis Investment Management LLP acquired a new position in shares of Telecom Argentina Stet - France Telecom in the 3rd quarter valued at about $11,422,000. SPX Gestao de Recursos Ltda purchased a new stake in shares of Telecom Argentina Stet - France Telecom during the 1st quarter worth about $8,565,000. ABS Direct Equity Fund LLC acquired a new stake in Telecom Argentina Stet - France Telecom during the 2nd quarter worth approximately $3,033,000. Absolute Gestao de Investimentos Ltda. increased its position in Telecom Argentina Stet - France Telecom by 156.7% during the 2nd quarter. Absolute Gestao de Investimentos Ltda. now owns 222,922 shares of the utilities provider's stock worth $2,898,000 after purchasing an additional 136,091 shares in the last quarter. Finally, Verde Servicos Internacionais S.A. purchased a new position in Telecom Argentina Stet - France Telecom in the first quarter valued at approximately $701,000.

Telecom Argentina Stet - France Telecom Company Profile

Telecom Argentina SA, formerly known as Telecom Argentina Stet-France Telecom SA, is an Argentine telecommunications company that provides connectivity and communications services to consumers, businesses and government organizations. Its operations include fixed-line and mobile voice services, broadband internet, data transmission, digital communications and information technology solutions.

The company markets consumer services under brands including Personal, which provides mobile and broadband services, and Flow, its entertainment and pay-TV platform.

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