Short Interest in Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) Decreases By 39.8%

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 presently 0.3 days. Currently, 0.1% of the company’s shares are sold short.

Telecom Argentina Stet – France Telecom Stock Performance

Shares of TEO stock traded down $0.14 during trading hours on Friday, hitting $13.18. The company’s stock had a trading volume of 78,802 shares, compared to its average volume of 385,878. 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 current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.51. The stock has a market cap of $5.67 billion, a PE ratio of 25.83 and a beta of 1.35. The company has a 50 day moving average of $13.19 and a 200 day moving average of $12.21.

Insider Buying and Selling at Telecom Argentina Stet – France Telecom

In related news, Director Alejandro Alberto Urricelqui bought 38,890 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average price of $13.43 per share, with a total value of $522,292.70. Following the purchase, the director 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 position. The acquisition 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.

Hedge Funds Weigh In On Telecom Argentina Stet – France Telecom

Institutional investors have recently bought and sold shares of the company. RWC Asset Management LLP lifted its holdings in 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 buying an additional 339,416 shares in the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in Telecom Argentina Stet – France Telecom in the first quarter valued at approximately $8,565,000. Sagil Capital LLP purchased a new stake in Telecom Argentina Stet – France Telecom in the 4th quarter valued at $7,629,000. Banco BTG Pactual S.A. acquired a new stake in shares of Telecom Argentina Stet – France Telecom during the third quarter worth about $2,725,000. Finally, UBS Group AG increased its holdings in shares of Telecom Argentina Stet – France Telecom by 25.7% in the fourth quarter. UBS Group AG now owns 293,659 shares of the utilities provider’s stock valued at $3,409,000 after purchasing an additional 60,033 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TEO. Wall Street Zen raised Telecom Argentina Stet – France Telecom from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Scotiabank boosted their price target on Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the stock a “sector underperform” rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. raised their price objective on Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, June 9th. Zacks Research lowered shares of Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Morgan Stanley upgraded Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $13.00 to $17.00 in a report on Wednesday, June 24th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $15.55.

Telecom Argentina Stet – France Telecom Company Profile

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.