Oaktree Capital Management LP Sells 725,264 Shares of Telecom Argentina Stet – France Telecom S.A. $TEO

Oaktree Capital Management LP cut its position in shares of Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) by 30.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,622,244 shares of the utilities provider’s stock after selling 725,264 shares during the quarter. Oaktree Capital Management LP owned approximately 0.38% of Telecom Argentina Stet – France Telecom worth $18,964,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. SPX Gestao de Recursos Ltda bought a new position in shares of Telecom Argentina Stet – France Telecom during the 1st quarter worth approximately $8,565,000. Sagil Capital LLP purchased a new position in shares of Telecom Argentina Stet – France Telecom in the 4th quarter worth approximately $7,629,000. Banco BTG Pactual S.A. bought a new position in shares of Telecom Argentina Stet – France Telecom in the third quarter valued at approximately $2,725,000. RWC Asset Management LLP grew its holdings in shares of Telecom Argentina Stet – France Telecom by 50.7% in the fourth quarter. RWC Asset Management LLP now owns 1,009,244 shares of the utilities provider’s stock valued at $11,717,000 after acquiring an additional 339,416 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Telecom Argentina Stet – France Telecom during the fourth quarter valued at approximately $1,969,000.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TEO shares. Wall Street Zen cut Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Weiss Ratings raised Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Scotiabank lifted their target price on Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the stock a “sector underperform” rating in a research note on Wednesday, May 27th. Morgan Stanley raised shares of Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $13.00 to $17.00 in a report on Wednesday, June 24th. Finally, Zacks Research downgraded 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 issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.55.

Insider Activity

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

Telecom Argentina Stet – France Telecom Price Performance

Shares of NYSE TEO opened at $13.56 on Thursday. The stock has a fifty day simple moving average of $13.50 and a two-hundred day simple moving average of $12.35. Telecom Argentina Stet – France Telecom S.A. has a 1-year low of $6.43 and a 1-year high of $16.34. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 26.59 and a beta of 1.35. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.51.

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.