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

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

Telecom Argentina Stet – France Telecom Stock Performance

Shares of NYSE TEO traded down $0.19 during trading on Friday, hitting $13.12. The company had a trading volume of 140,056 shares, compared to its average volume of 366,336. Telecom Argentina Stet – France Telecom has a 12 month low of $6.43 and a 12 month high of $16.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.56 and a current ratio of 0.58. The firm has a market capitalization of $5.65 billion, a P/E ratio of 25.72 and a beta of 1.35. The stock has a 50 day simple moving average of $13.21 and a 200 day simple moving average of $12.22.

Insider Buying and Selling at Telecom Argentina Stet – France Telecom

In related news, Director Alejandro Alberto Urricelqui acquired 38,890 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was purchased at an average cost of $13.43 per share, with a total value of $522,292.70. Following the completion of the acquisition, the director directly 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 SEC, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Telecom Argentina Stet – France Telecom

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Weiss Ratings upgraded Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. increased their target price on Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, June 9th. Wall Street Zen raised Telecom Argentina Stet – France Telecom from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Scotiabank boosted their target price on shares of Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the company a “sector underperform” rating in a research report on Wednesday, May 27th. 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 analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Telecom Argentina Stet – France Telecom presently has a consensus 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.