Telefonica SA $TEF Position Cut by Mainstay Capital Management LLC ADV

Mainstay Capital Management LLC ADV reduced its holdings in Telefonica SA (NYSE:TEF) by 46.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 420,161 shares of the utilities provider’s stock after selling 360,124 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in Telefonica were worth $2,134,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in shares of Telefonica by 17.8% during the second quarter. American Century Companies Inc. now owns 1,752,600 shares of the utilities provider’s stock valued at $9,166,000 after purchasing an additional 265,090 shares during the period. Advisors Preferred LLC acquired a new stake in Telefonica in the third quarter worth about $1,695,000. Sterling Investment Management LLC acquired a new stake in Telefonica in the third quarter worth about $846,000. Providence Wealth Advisors LLC bought a new position in Telefonica in the 2nd quarter valued at about $132,000. Finally, Diversified Trust Co acquired a new position in Telefonica during the 3rd quarter valued at about $280,000. Institutional investors own 1.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Bank of America restated an “underperform” rating and set a $3.83 price target on shares of Telefonica in a research report on Thursday, December 4th. Citigroup cut shares of Telefonica to a “neutral” rating in a report on Monday, December 1st. Wall Street Zen upgraded shares of Telefonica from a “sell” rating to a “hold” rating in a research note on Monday, November 24th. New Street Research cut Telefonica from a “hold” rating to a “reduce” rating in a report on Wednesday, December 17th. Finally, Kepler Capital Markets raised Telefonica from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. Four investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Strong Sell” and an average price target of $4.02.

Telefonica Stock Performance

NYSE:TEF opened at $3.81 on Thursday. The company has a 50-day moving average of $3.81 and a 200-day moving average of $4.36. The firm has a market cap of $21.60 billion, a price-to-earnings ratio of -9.29, a price-to-earnings-growth ratio of 0.26 and a beta of 0.29. The company has a current ratio of 0.84, a quick ratio of 0.80 and a debt-to-equity ratio of 1.44. Telefonica SA has a twelve month low of $3.80 and a twelve month high of $5.72.

Telefonica Profile

Telefónica, SA is a Spanish multinational telecommunications company headquartered in Madrid. Founded in 1924 as Compañía Telefónica Nacional de España, it has grown into one of the world’s largest telecommunications groups. Telefónica provides a broad range of communications services to residential and business customers, including mobile and fixed-line telephony, broadband internet, and pay-TV. The company also develops and sells network infrastructure and related services to support connectivity at scale.

Beyond traditional voice and data services, Telefónica has expanded into digital and IT services aimed at enterprise customers and public-sector clients.