Key Points
- Insider purchase: Martin Andres Heine bought 7,000 Telecom Argentina shares at an average price of $2.67, investing $18,690 and increasing his ownership by 20.29% to 41,500 shares.
- Analyst outlook is mixed: Telecom Argentina has an average rating of “Hold” and a consensus price target of $15.93, with recent upgrades and downgrades from major brokerages.
- Institutional interest increased: Several hedge funds recently initiated or expanded positions, including Artemis Investment Management, which acquired a stake valued at approximately $11.4 million.
Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Get Free Report) insider Martin Andres Heine purchased 7,000 shares of Telecom Argentina Stet - France Telecom stock in a transaction that occurred on Friday, October 9th. The shares were bought at an average price of $2.67 per share, for a total transaction of $18,690.00. Following the transaction, the insider owned 41,500 shares in the company, valued at $110,805. This represents a 20.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Telecom Argentina Stet - France Telecom Stock Up 1.3%
Shares of NYSE:TEO opened at $12.41 on Thursday. 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 firm has a market cap of $5.34 billion, a P/E ratio of 10.09 and a beta of 1.35. Telecom Argentina Stet - France Telecom S.A. has a 12 month low of $7.07 and a 12 month high of $16.34. The company's 50-day moving average price is $13.15 and its two-hundred day moving average price is $12.93.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on TEO. UBS Group reduced their target price on shares of Telecom Argentina Stet - France Telecom from $18.00 to $16.50 and set a "buy" rating on the stock in a research report on Wednesday, August 12th. 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. Wall Street Zen lowered shares of Telecom Argentina Stet - France Telecom from a "buy" rating to a "hold" rating in a report on Sunday, September 20th. Morgan Stanley upgraded shares of Telecom Argentina Stet - France Telecom from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $13.00 to $17.00 in a research report on Wednesday, June 24th. Finally, Weiss Ratings downgraded Telecom Argentina Stet - France Telecom from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, October 2nd. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Telecom Argentina Stet - France Telecom has an average rating of "Hold" and a consensus target price of $15.93.
Check Out Our Latest Analysis on Telecom Argentina Stet - France Telecom
Hedge Funds Weigh In On Telecom Argentina Stet - France Telecom
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Artemis Investment Management LLP acquired a new stake in Telecom Argentina Stet - France Telecom during the 3rd quarter worth $11,422,000. SPX Gestao de Recursos Ltda bought a new stake in shares of Telecom Argentina Stet - France Telecom during the 1st quarter valued at $8,565,000. ABS Direct Equity Fund LLC bought a new stake in shares of Telecom Argentina Stet - France Telecom during the 2nd quarter valued at $3,033,000. Absolute Gestao de Investimentos Ltda. lifted its stake in shares of Telecom Argentina Stet - France Telecom by 156.7% in the 2nd quarter. Absolute Gestao de Investimentos Ltda. now owns 222,922 shares of the utilities provider's stock valued at $2,898,000 after purchasing an additional 136,091 shares during the period. Finally, Engineers Gate Manager LP lifted its stake in shares of 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 period.
Telecom Argentina Stet - France Telecom Company Profile
(
Get Free Report)
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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