Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) Sees Large Drop in Short Interest

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

Telecom Argentina Stet – France Telecom Stock Down 1.2%

Shares of TEO stock traded down $0.16 during trading on Thursday, reaching $13.62. The company’s stock had a trading volume of 27,071 shares, compared to its average volume of 387,038. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.58 and a quick ratio of 0.56. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 26.74 and a beta of 1.35. The stock’s 50-day moving average price is $13.16 and its 200 day moving average price is $12.20. Telecom Argentina Stet – France Telecom has a 1-year low of $6.43 and a 1-year high of $16.34.

Insider Buying and Selling at Telecom Argentina Stet – France Telecom

In other Telecom Argentina Stet – France Telecom news, Director Alejandro Alberto Urricelqui purchased 38,890 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was purchased at an average price of $13.43 per share, with a total value of $522,292.70. Following the transaction, the director owned 399,348 shares of the company’s stock, valued at approximately $5,363,243.64. This trade represents a 10.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Institutional Trading of Telecom Argentina Stet – France Telecom

Large investors have recently modified their holdings of the stock. Van ECK Associates Corp acquired a new stake in shares of Telecom Argentina Stet – France Telecom in the third quarter valued at $43,000. EFG International AG acquired a new position in Telecom Argentina Stet – France Telecom during the 4th quarter worth $58,000. Qube Research & Technologies Ltd purchased a new stake in Telecom Argentina Stet – France Telecom during the 3rd quarter worth about $98,000. Engineers Gate Manager LP acquired a new stake in Telecom Argentina Stet – France Telecom in the 2nd quarter valued at about $110,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Telecom Argentina Stet – France Telecom in the 4th quarter valued at about $171,000.

Analyst Ratings Changes

A number of brokerages recently weighed in on TEO. JPMorgan Chase & Co. upped their price objective on 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. Scotiabank lifted their price objective on shares of Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the stock a “sector underperform” rating in a research note on Wednesday, May 27th. Morgan Stanley raised shares of Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $13.00 to $17.00 in a research report on Wednesday, June 24th. Zacks Research downgraded shares of Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Wall Street Zen upgraded Telecom Argentina Stet – France Telecom from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Telecom Argentina Stet – France Telecom currently has an average rating of “Hold” and an average price target of $15.55.

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.