Concurrent Investment Advisors LLC Sells 15,704 Shares of Telefonica SA $TEF

Concurrent Investment Advisors LLC lowered its position in shares of Telefonica SA (NYSE:TEF) by 44.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,543 shares of the utilities provider’s stock after selling 15,704 shares during the period. Concurrent Investment Advisors LLC’s holdings in Telefonica were worth $102,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Truist Financial Corp lifted its stake in Telefonica by 26.1% during the second quarter. Truist Financial Corp now owns 14,945 shares of the utilities provider’s stock worth $78,000 after purchasing an additional 3,094 shares during the last quarter. Cromwell Holdings LLC lifted its stake in shares of Telefonica by 50.4% in the 1st quarter. Cromwell Holdings LLC now owns 10,031 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 3,361 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Telefonica by 21.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 22,603 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 3,924 shares during the last quarter. Gallacher Capital Management LLC lifted its stake in shares of Telefonica by 4.0% in the 2nd quarter. Gallacher Capital Management LLC now owns 105,560 shares of the utilities provider’s stock valued at $552,000 after acquiring an additional 4,099 shares during the last quarter. Finally, Focus Partners Wealth lifted its stake in shares of Telefonica by 24.5% in the 1st quarter. Focus Partners Wealth now owns 26,347 shares of the utilities provider’s stock valued at $123,000 after acquiring an additional 5,177 shares during the last quarter. Institutional investors own 1.14% of the company’s stock.

Telefonica Trading Down 1.2%

TEF opened at $5.24 on Wednesday. The business has a 50 day simple moving average of $5.26 and a two-hundred day simple moving average of $5.16. The firm has a market capitalization of $29.68 billion, a price-to-earnings ratio of -10.91, a PEG ratio of 0.60 and a beta of 0.49. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.85 and a quick ratio of 0.81. Telefonica SA has a one year low of $3.89 and a one year high of $5.72.

Telefonica (NYSE:TEF) last released its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. Telefonica had a positive return on equity of 8.57% and a negative net margin of 5.88%.The business had revenue of $10.28 billion during the quarter, compared to analyst estimates of $9.03 billion. Analysts predict that Telefonica SA will post 0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Berenberg Bank raised Telefonica to a “hold” rating in a research note on Thursday, June 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Telefonica in a research note on Wednesday, October 8th. Finally, BNP Paribas Exane assumed coverage on Telefonica in a research note on Tuesday. They issued an “underperform” rating and a $4.20 target price for the company. Two equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Strong Sell” and an average target price of $4.20.

Telefonica Profile

Telefónica, SA, together with its subsidiaries, provides telecommunications services in Europe and Latin America. The company offers mobile and related services and products, such as mobile voice, value added, mobile data and internet, wholesale, corporate, roaming, fixed wireless, and trunking and paging services.