Telecom Argentina Stet - France Telecom (NYSE:TEO) Shares Down 9.8% - Here's Why

Key Points

• Telecom Argentina shares fell 9.8% to $11.63 in mid-day trading, with trading volume down 82% versus the average daily volume.
• Analyst sentiment is mixed: four analysts rate the stock Buy, two Hold and one Sell, producing a consensus Hold rating and an average price target of $15.93.
• Institutional investors made several purchases, including a new $11.4 million position by Artemis Investment Management, while a company director sold 188,500 shares in August.

Shares of Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Get Free Report) fell 9.8% during mid-day trading on Monday. The stock traded as low as $11.69 and last traded at $11.63. 61,784 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 349,866 shares. The stock had previously closed at $12.90.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TEO. Weiss Ratings upgraded shares of Telecom Argentina Stet - France Telecom from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, October 16th. Santander initiated coverage on Telecom Argentina Stet - France Telecom in a research report on Friday, October 16th. They set an "outperform" rating on the stock. Wall Street Zen cut Telecom Argentina Stet - France Telecom from a "buy" rating to a "hold" rating in a report on Sunday, September 20th. UBS Group cut their price target on shares of Telecom Argentina Stet - France Telecom from $18.00 to $16.50 and set a "buy" rating on the stock in a report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Telecom Argentina Stet - France Telecom from $19.00 to $21.00 and gave the company an "overweight" rating in a research note on Friday, September 4th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $15.93.

Telecom Argentina Stet - France Telecom Trading Down 8.4%

The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 9.61 and a beta of 1.35. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.50. The company's fifty day moving average is $13.00 and its two-hundred day moving average is $12.98.

Insider Activity at Telecom Argentina Stet - France Telecom

In other Telecom Argentina Stet - France Telecom news, Director Baruki Luis Alberto Gonzalez sold 188,500 shares of Telecom Argentina Stet - France Telecom stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $2.78, for a total value of $524,030.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.00% of the company's stock.

Institutional Trading of Telecom Argentina Stet - France Telecom

A number of institutional investors have recently added to or reduced their stakes in TEO. Artemis Investment Management LLP acquired a new stake in Telecom Argentina Stet - France Telecom during the third quarter worth about $11,422,000. ABS Direct Equity Fund LLC bought a new position in shares of Telecom Argentina Stet - France Telecom in the second quarter valued at approximately $3,033,000. Engineers Gate Manager LP raised its position in Telecom Argentina Stet - France Telecom by 105.6% in the 2nd quarter. Engineers Gate Manager LP now owns 86,936 shares of the utilities provider's stock valued at $1,130,000 after purchasing an additional 44,647 shares during the last quarter. Absolute Gestao de Investimentos Ltda. increased its stake in shares of Telecom Argentina Stet - France Telecom by 156.7% in the second quarter. Absolute Gestao de Investimentos Ltda. now owns 222,922 shares of the utilities provider's stock valued at $2,898,000 after buying an additional 136,091 shares in the last quarter. Finally, XP Advisory US Inc. acquired a new position in shares of Telecom Argentina Stet - France Telecom during the second quarter worth approximately $82,000.

Telecom Argentina Stet - France Telecom Company Profile

Telecom Argentina SA is a telecommunications and digital-services company serving residential, business and government customers primarily in Argentina. Its offerings include mobile voice and data services, fixed-line telephony, broadband internet, data transmission and other connectivity solutions.

The company also provides pay television and digital entertainment through its Flow platform, along with information and communications technology services for businesses, including cloud, cybersecurity, data-center and managed connectivity solutions.

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