Telecom Argentina Stet – France Telecom (NYSE:TEO) Stock Price Down 9.8% – Here’s Why

Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO)’s stock price dropped 9.8% during trading on Monday. The stock traded as low as $11.69 and last traded at $11.63. Approximately 61,784 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 349,866 shares. The stock had previously closed at $12.90.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Santander assumed coverage on shares of Telecom Argentina Stet – France Telecom in a research report on Friday, October 16th. They set an “outperform” rating for the company. Wall Street Zen cut Telecom Argentina Stet – France Telecom from a “buy” rating to a “hold” rating in a report on Sunday, September 20th. JPMorgan Chase & Co. lifted their price objective on Telecom Argentina Stet – France Telecom from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, September 4th. UBS Group dropped their price objective on shares of Telecom Argentina Stet – France Telecom from $18.00 to $16.50 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Finally, Weiss Ratings upgraded Telecom Argentina Stet – France Telecom from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 16th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.93.

Telecom Argentina Stet – France Telecom Stock Down 1.6%

The stock has a 50 day moving average of $12.95 and a 200-day moving average of $12.59.

Insiders Place Their Bets

In related news, Director Baruki Luis Alberto Gonzalez sold 188,500 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were 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 Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Telecom Argentina Stet – France Telecom

A number of large investors have recently added to or reduced their stakes in TEO. Artemis Investment Management LLP purchased a new stake in shares of Telecom Argentina Stet – France Telecom during the third quarter valued at approximately $11,422,000. SPX Gestao de Recursos Ltda bought a new stake in Telecom Argentina Stet – France Telecom in the 1st quarter worth $8,565,000. ABS Direct Equity Fund LLC purchased a new position in shares of Telecom Argentina Stet – France Telecom in the second quarter valued at about $3,033,000. Absolute Gestao de Investimentos Ltda. raised its stake in shares of Telecom Argentina Stet – France Telecom by 156.7% during 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 acquiring an additional 136,091 shares during the last quarter. Finally, Pictet Asset Management Holding SA bought a new position in shares of Telecom Argentina Stet – France Telecom during the first quarter valued at about $561,000.

About Telecom Argentina Stet – France Telecom

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.