Oaktree Capital Management LP Trims Stake in Telecom Argentina Stet – France Telecom S.A. $TEO

Oaktree Capital Management LP lowered its position in Telecom Argentina Stet – France Telecom S.A. (NYSE:TEOFree Report) by 30.9% during the 1st quarter, HoldingsChannel reports. The firm owned 1,622,244 shares of the utilities provider’s stock after selling 725,264 shares during the period. Oaktree Capital Management LP’s holdings in Telecom Argentina Stet – France Telecom were worth $18,964,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd increased its stake in Telecom Argentina Stet – France Telecom by 8.3% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 21,330 shares of the utilities provider’s stock worth $249,000 after acquiring an additional 1,628 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Telecom Argentina Stet – France Telecom by 21.3% during the second quarter. Bank of America Corp DE now owns 26,872 shares of the utilities provider’s stock worth $237,000 after purchasing an additional 4,714 shares in the last quarter. EFG International AG purchased a new position in shares of Telecom Argentina Stet – France Telecom during the fourth quarter worth about $58,000. Van ECK Associates Corp bought a new position in shares of Telecom Argentina Stet – France Telecom in the third quarter worth approximately $43,000. Finally, Engineers Gate Manager LP bought a new position in shares of Telecom Argentina Stet – France Telecom in the second quarter worth approximately $110,000.

Insider Activity at Telecom Argentina Stet – France Telecom

In other Telecom Argentina Stet – France Telecom news, Director Alejandro Alberto Urricelqui bought 38,890 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were bought at an average price of $13.43 per share, for a total transaction of $522,292.70. Following the transaction, the director directly owned 399,348 shares in the company, valued at $5,363,243.64. This trade represents a 10.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Wall Street Zen cut shares of Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Morgan Stanley upgraded shares of Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $13.00 to $17.00 in a research report on Wednesday, June 24th. Scotiabank increased their target price on Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the company a “sector underperform” rating in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. lifted their price target on Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 9th. Three investment 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.55.

Get Our Latest Analysis on TEO

Telecom Argentina Stet – France Telecom Trading Down 0.3%

TEO stock opened at $13.56 on Thursday. The company has a market capitalization of $5.84 billion, a PE ratio of 26.59 and a beta of 1.35. 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 one year low of $6.43 and a one year high of $16.34. The company’s 50 day moving average price is $13.50 and its two-hundred day moving average price is $12.35.

Telecom Argentina Stet – France Telecom Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Telecom Argentina Stet - France Telecom (NYSE:TEO)

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