Telecom Argentina Stet – France Telecom S.A. $TEO Stock: Pictet Asset Management Holding SA Boosts Stake

Pictet Asset Management Holding SA grew its position in shares of Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) by 52.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 292,260 shares of the utilities provider’s stock after purchasing an additional 100,119 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.07% of Telecom Argentina Stet – France Telecom worth $3,586,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Artemis Investment Management LLP bought a new stake in shares of Telecom Argentina Stet – France Telecom during the third quarter worth about $11,422,000. SPX Gestao de Recursos Ltda bought a new position in Telecom Argentina Stet – France Telecom in the 1st quarter valued at approximately $8,565,000. ABS Direct Equity Fund LLC bought a new position in Telecom Argentina Stet – France Telecom in the 2nd quarter valued at approximately $3,033,000. Absolute Gestao de Investimentos Ltda. boosted its position in Telecom Argentina Stet – France Telecom by 156.7% during the 2nd quarter. Absolute Gestao de Investimentos Ltda. now owns 222,922 shares of the utilities provider’s stock worth $2,898,000 after buying an additional 136,091 shares during the period. Finally, Engineers Gate Manager LP boosted its position in Telecom Argentina Stet – France Telecom by 105.6% during the 2nd quarter. Engineers Gate Manager LP now owns 86,936 shares of the utilities provider’s stock worth $1,130,000 after buying an additional 44,647 shares during the period.

Insider Transactions at Telecom Argentina Stet – France Telecom

In other Telecom Argentina Stet – France Telecom 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 transaction of $524,030.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

Telecom Argentina Stet – France Telecom Trading Up 0.5%

Shares of NYSE:TEO traded up $0.05 during trading on Friday, reaching $10.58. The stock had a trading volume of 311,781 shares, compared to its average volume of 390,248. The firm’s fifty day moving average is $12.24 and its 200 day moving average is $12.51. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.58. Telecom Argentina Stet – France Telecom S.A. has a 52 week low of $9.75 and a 52 week high of $16.34. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 8.60 and a beta of 1.41.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TEO. Weiss Ratings lowered shares of Telecom Argentina Stet – France Telecom from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, October 30th. Wall Street Zen downgraded Telecom Argentina Stet – France Telecom from a “buy” rating to a “hold” rating in a report on Sunday, September 20th. Santander assumed coverage on Telecom Argentina Stet – France Telecom in a research report on Friday, October 16th. They set an “outperform” rating for the company. JPMorgan Chase & Co. lifted their target price on Telecom Argentina Stet – France Telecom from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, September 4th. Finally, UBS Group cut their target price on Telecom Argentina Stet – France Telecom from $18.00 to $16.50 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Four research 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 MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.93.

Telecom Argentina Stet – France Telecom Profile

Telecom Argentina S.A. is a telecommunications and digital services provider based in Argentina. Its offerings include mobile and fixed-line phone service, broadband internet, pay television and digital entertainment, serving residential and business customers. The company markets mobile and internet services under the Personal brand and offers television and streaming services through Flow. It also provides connectivity and technology solutions to business and wholesale customers. Telecom Argentina was established in 1990 as part of the privatization of Argentina’s state-owned telephone system.