Wall Street Zen downgraded shares of Telecom Argentina Stet – France Telecom (NYSE:TEO – Free Report) from a buy rating to a hold rating in a research note released on Sunday morning,Wall Street Zen reports.
Several other research firms have also weighed in on TEO. UBS Group dropped their price objective on shares of Telecom Argentina Stet – France Telecom from $18.00 to $16.50 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. JPMorgan Chase & Co. lifted their target price on Telecom Argentina Stet – France Telecom from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, September 4th. Weiss Ratings raised Telecom Argentina Stet – France Telecom from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 16th. Morgan Stanley upgraded Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $13.00 to $17.00 in a research report on Wednesday, June 24th. Finally, Zacks Research downgraded Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.93.
Telecom Argentina Stet – France Telecom Stock Performance
Insider Buying and Selling at Telecom Argentina Stet – France Telecom
In related news, Director Baruki Luis Alberto Gonzalez sold 188,500 shares of Telecom Argentina Stet – France Telecom stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $2.78, for a total transaction of $524,030.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.
Institutional Trading of Telecom Argentina Stet – France Telecom
A number of institutional investors have recently made changes to their positions in TEO. SPX Gestao de Recursos Ltda acquired a new position in Telecom Argentina Stet – France Telecom in the first quarter worth approximately $8,565,000. Sagil Capital LLP acquired a new stake in shares of Telecom Argentina Stet – France Telecom during the 4th quarter valued at $7,629,000. RWC Asset Management LLP boosted its stake in shares of Telecom Argentina Stet – France Telecom by 50.7% during the 4th quarter. RWC Asset Management LLP now owns 1,009,244 shares of the utilities provider’s stock worth $11,717,000 after acquiring an additional 339,416 shares in the last quarter. ABS Direct Equity Fund LLC bought a new stake in shares of Telecom Argentina Stet – France Telecom during the 2nd quarter worth $3,033,000. Finally, Absolute Gestao de Investimentos Ltda. grew its holdings 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 acquiring an additional 136,091 shares during the last quarter.
About Telecom Argentina Stet – France Telecom
Telecom Argentina SA, formerly known as Telecom Argentina STET-France Telecom, is a telecommunications company serving consumers, businesses and public-sector organizations primarily in Argentina. The company provides mobile and fixed-line voice services, broadband internet access, data connectivity and other communications solutions.
Its consumer brands include Personal for mobile and broadband services and Flow for pay television, video streaming and related entertainment offerings. Telecom Argentina also provides information and communications technology services to corporate and institutional customers, including connectivity, data transmission, cloud, cybersecurity and other digital solutions.
The company was established following Argentina’s telecommunications privatization in the early 1990s, with STET and France Télécom initially participating in its ownership.
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