Absolute Gestao de Investimentos Ltda. Makes New Investment in Telecom Argentina Stet – France Telecom S.A. $TEO

Absolute Gestao de Investimentos Ltda. purchased a new position in shares of Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 86,831 shares of the utilities provider’s stock, valued at approximately $1,015,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TEO. Van ECK Associates Corp acquired a new stake in Telecom Argentina Stet – France Telecom in the 3rd quarter valued at $43,000. EFG International AG acquired a new position in Telecom Argentina Stet – France Telecom during the fourth quarter valued at approximately $58,000. Qube Research & Technologies Ltd acquired a new position in Telecom Argentina Stet – France Telecom during the third quarter valued at approximately $98,000. Engineers Gate Manager LP bought a new position in Telecom Argentina Stet – France Telecom in the second quarter valued at approximately $110,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Telecom Argentina Stet – France Telecom during the 4th quarter worth approximately $171,000.

Analyst Upgrades and Downgrades

TEO has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. increased their price target on shares of Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, June 9th. Morgan Stanley raised shares of Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $13.00 to $17.00 in a research report on Wednesday, June 24th. Wall Street Zen lowered shares of Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, Zacks Research cut shares of Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Three investment 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.55.

Insider Buying and Selling

In other Telecom Argentina Stet – France Telecom news, Director Alejandro Alberto Urricelqui bought 38,890 shares of Telecom Argentina Stet – France Telecom stock in a transaction on Tuesday, June 2nd. The shares were purchased at an average cost of $13.43 per share, with a total value of $522,292.70. Following the acquisition, the director directly owned 399,348 shares of the company’s stock, valued at $5,363,243.64. The trade was a 10.79% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Telecom Argentina Stet – France Telecom Price Performance

NYSE:TEO opened at $13.66 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.56 and a current ratio of 0.58. Telecom Argentina Stet – France Telecom S.A. has a 52 week low of $6.43 and a 52 week high of $16.34. The firm’s 50-day simple moving average is $13.39 and its 200 day simple moving average is $12.29. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 26.78 and a beta of 1.35.

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.