Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO) Short Interest Down 39.8% in June

Key Points

• Short interest in Telecom Argentina Stet - France Telecom (NYSE:TEO) fell 39.8% in June, dropping to 252,163 shares as of June 30 from 418,789 shares two weeks earlier.
• Director Alejandro Alberto Urricelqui bought 38,890 shares on June 2 at an average price of $13.43, increasing his stake by 10.79% and signaling insider confidence.
• Analysts remain mixed on the stock, with several rating changes recently and a consensus rating of “Hold”; the average price target stands at $15.55.

Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Get Free Report) saw a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 252,163 shares, a decrease of 39.8% from the June 15th total of 418,789 shares. Currently, 0.1% of the company's shares are short sold. Based on an average trading volume of 839,703 shares, the days-to-cover ratio is presently 0.3 days.

Insider Buying and Selling

In related news, Director Alejandro Alberto Urricelqui acquired 38,890 shares of the stock in a transaction on Tuesday, June 2nd. The stock was purchased at an average price of $13.43 per share, for a total transaction of $522,292.70. Following the completion of the transaction, the director owned 399,348 shares of the company's stock, valued at $5,363,243.64. This trade represents a 10.79% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Telecom Argentina Stet - France Telecom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sagil Capital LLP purchased a new stake in shares of Telecom Argentina Stet - France Telecom during the 4th quarter valued at about $7,629,000. RWC Asset Management LLP boosted its holdings in shares of Telecom Argentina Stet - France Telecom by 50.7% in the 4th quarter. RWC Asset Management LLP now owns 1,009,244 shares of the utilities provider's stock worth $11,717,000 after purchasing an additional 339,416 shares during the period. Verde Servicos Internacionais S.A. bought a new position in shares of Telecom Argentina Stet - France Telecom during the 1st quarter valued at approximately $701,000. Pictet Asset Management Holding SA purchased a new stake in Telecom Argentina Stet - France Telecom during the 1st quarter valued at $561,000. Finally, CenterBook Partners LP purchased a new stake in Telecom Argentina Stet - France Telecom during the 4th quarter valued at $1,097,000.

Analysts Set New Price Targets

TEO has been the subject of a number of analyst reports. Zacks Research lowered shares of Telecom Argentina Stet - France Telecom from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Weiss Ratings raised Telecom Argentina Stet - France Telecom from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 4th. Wall Street Zen upgraded Telecom Argentina Stet - France Telecom from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Scotiabank lifted their price objective 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. Finally, Morgan Stanley upgraded Telecom Argentina Stet - France Telecom from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $13.00 to $17.00 in a report on Wednesday, June 24th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Telecom Argentina Stet - France Telecom has a consensus rating of "Hold" and an average price target of $15.55.

Telecom Argentina Stet - France Telecom Stock Performance

Telecom Argentina Stet - France Telecom stock traded down $0.16 during trading on Thursday, reaching $13.62. The company had a trading volume of 27,071 shares, compared to its average volume of 387,038. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 26.74 and a beta of 1.35. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.51. The firm's 50-day simple moving average is $13.16 and its 200 day simple moving average is $12.20. Telecom Argentina Stet - France Telecom has a 52 week low of $6.43 and a 52 week high of $16.34.

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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