Telecom Argentina Stet – France Telecom (NYSE:TEO) Stock Price Down 6% – Here’s What Happened

Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) shares were down 6% during mid-day trading on Thursday. The company traded as low as $11.50 and last traded at $11.5350. Approximately 189,983 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 352,181 shares. The stock had previously closed at $12.27.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TEO shares. Zacks Research downgraded shares of Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. UBS Group dropped their price target on shares of Telecom Argentina Stet – France Telecom from $18.00 to $16.50 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Morgan Stanley upgraded shares of Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $13.00 to $17.00 in a report on Wednesday, June 24th. Weiss Ratings raised shares of Telecom Argentina Stet – France Telecom from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, September 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Telecom Argentina Stet – France Telecom from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, September 4th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $15.93.

Telecom Argentina Stet – France Telecom Stock Up 0.8%

The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The company has a 50-day simple moving average of $13.36 and a 200 day simple moving average of $12.87. The company has a market cap of $5.06 billion, a P/E ratio of 9.55 and a beta of 1.35.

Insider Activity at Telecom Argentina Stet – France Telecom

In other news, Director Baruki Luis Alberto Gonzalez sold 188,500 shares of Telecom Argentina Stet – France Telecom stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $2.78, for a total transaction of $524,030.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Telecom Argentina Stet – France Telecom

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. ABS Direct Equity Fund LLC purchased a new stake in Telecom Argentina Stet – France Telecom in the second quarter worth about $3,033,000. Engineers Gate Manager LP raised its holdings in shares of Telecom Argentina Stet – France Telecom by 105.6% in the 2nd quarter. Engineers Gate Manager LP now owns 86,936 shares of the utilities provider’s stock valued at $1,130,000 after purchasing an additional 44,647 shares in the last quarter. Absolute Gestao de Investimentos Ltda. lifted its position in shares of Telecom Argentina Stet – France Telecom by 156.7% in the 2nd quarter. Absolute Gestao de Investimentos Ltda. now owns 222,922 shares of the utilities provider’s stock worth $2,898,000 after purchasing an additional 136,091 shares during the period. XP Advisory US Inc. purchased a new stake in shares of Telecom Argentina Stet – France Telecom in the 2nd quarter worth approximately $82,000. Finally, SPX Gestao de Recursos Ltda bought a new position in shares of Telecom Argentina Stet – France Telecom during the first quarter valued at approximately $8,565,000.

Telecom Argentina Stet – France Telecom Company Profile

Telecom Argentina SA, formerly known as Telecom Argentina Stet-France Telecom SA, is an Argentine telecommunications company that provides connectivity and communications services to consumers, businesses and government organizations. Its operations include fixed-line and mobile voice services, broadband internet, data transmission, digital communications and information technology solutions.

The company markets consumer services under brands including Personal, which provides mobile and broadband services, and Flow, its entertainment and pay-TV platform.