Discerene Group LP Sells 73,615 Shares of Telecom Argentina Stet – France Telecom S.A. $TEO

Discerene Group LP lowered its holdings in shares of Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) by 15.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 414,244 shares of the utilities provider’s stock after selling 73,615 shares during the period. Telecom Argentina Stet – France Telecom comprises approximately 0.5% of Discerene Group LP’s portfolio, making the stock its 11th biggest holding. Discerene Group LP’s holdings in Telecom Argentina Stet – France Telecom were worth $4,843,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. RWC Asset Management LLP lifted its holdings in 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 in the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in Telecom Argentina Stet – France Telecom during the 1st quarter valued at approximately $8,565,000. Sagil Capital LLP bought a new stake in shares of Telecom Argentina Stet – France Telecom during the fourth quarter valued at approximately $7,629,000. Banco BTG Pactual S.A. purchased a new position in shares of Telecom Argentina Stet – France Telecom in the third quarter worth $2,725,000. Finally, UBS Group AG boosted its position in shares of Telecom Argentina Stet – France Telecom by 25.7% during the fourth quarter. UBS Group AG now owns 293,659 shares of the utilities provider’s stock worth $3,409,000 after acquiring an additional 60,033 shares during the last quarter.

Insider Transactions at Telecom Argentina Stet – France Telecom

In other Telecom Argentina Stet – France Telecom news, Director Alejandro Alberto Urricelqui purchased 38,890 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were bought at an average price of $13.43 per share, with a total value of $522,292.70. Following the completion of the purchase, the director directly owned 399,348 shares in the company, valued at $5,363,243.64. This trade represents a 10.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Telecom Argentina Stet – France Telecom Stock Up 0.3%

NYSE TEO opened at $13.66 on Friday. The stock has a 50 day moving average price of $13.39 and a 200-day moving average price of $12.29. Telecom Argentina Stet – France Telecom S.A. has a one year low of $6.43 and a one year high of $16.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.56 and a current ratio of 0.58. The company has a market capitalization of $5.88 billion, a P/E ratio of 26.78 and a beta of 1.35.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TEO shares. Wall Street Zen raised shares of Telecom Argentina Stet – France Telecom from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. JPMorgan Chase & Co. boosted their price target on shares of Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 9th. Zacks Research downgraded shares of Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Scotiabank raised their price objective on Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the company a “sector underperform” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings raised Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Three 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.55.

Telecom Argentina Stet – France Telecom Company Profile

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.